Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Dunbar Distribution markets CDs of numerous performing artists. At the beginning of March, Dunbar had in beginning inventory 2,500 CDs with a unit cost of $7. During March Dunbar made th following purchases of CDs.
March 5 - 2,000 @ $8
March 13 - 3,500 @ $9
March 21 - 5,000 @ $10
March 26 - 2,000 @ $11
During March 12,000 units were sold. Dunbar used a periodic inventory system.
a. Determine the cost of goods available for sale
b. Determine 1. the ending inventory and 2, the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average cost). Prove te accuracy of the cost of goods sold under the FIFO and LIFO mehtods. (Note: for average cost, round cost per unit to three decimal places.)
c. Which cost flow method results in 1. the highest inventory amount for the balanc sheet abd 2. the highest cost of goods sold for the income statement?
This land will be used as a larger site on which to train the dogs & cats - i.e., it'll be used as business land. How to journal entry this event?
Determine the accounting rate of return on this investment for the first year. Assume straight-line depreciation. Based on this analysis, would the investment be made? Explain your answer.
Assume Ken’s modified adjusted gross income for purposes of the bond interest exclusion and for determining the taxability of his Social Security benefits is $70,000 and that Ken files as a single taxpayer. Find out Ken’s 2009 gross income
Evaluate product cost and purpose an income statement under absorption and variable costing.
You have seen how digital technology like YouTube allows people to easily create mashups and remixes. Do you think the law should allow these diffrent kinds of creative expressions? Why?
Assume Dawson has the ability to significantly influence the operations of Sacco. Illustrate what is the equity in income of Sacco for 2011?
During the year, P sold goods to S for $85,800 at a mark-up of 25% on cost. 30% of these goods are still on hand at the date of consolidation.
Create a situation or scenario in which it may be appropriate to recognize revenue as the productive activity takes place. State whether or not there are any other times appropriate for recognizing revenue. Give a rationale with your response.
Describe for the students the primary objectives of accounting. Explain basic terminology of the accounting process or financial reporting.
the amortization expense entry recorded during the year is eliminated on a consolidation worksheet as a component of entry I. what is the necessity of removing this amortization?
Labelling the T-accounts with the correct account name, labelling debit and credit on the T-account
Computation the NRV of accounts receivables - How much cash should Grant receive from the bank on May 15?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd