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!
Question: At December 31, 2011, Quality solvents, Inc. has outstanding non-cancelable purchase commitments for 100,000, at $1.50 per gallon, of raw material to be used in its manufacturing process. The company prices raw materials at the lower of cost or market.
a) Prepare the journal entry necessary at December 31, 2011 assuming that the market price of the raw material on that date is $1.65 per gallon.
b) Prepare the journal entry necessary at December 31, 2011 assuming that the market price of the raw material on that date is $1.35 per gallon.
c) Quality solvents takes delivery of the raw materials on January 19, 2012. Give the entry for the receipt of the raw materials assuming the market price on the date of delivery is $1.30 per gallon and that the market price at December 31, 2011 was $1.35 per gallon.
Determine which expenses are mixed and, by use of the high low method, seperate each mixed expense into its variable and fixed components. state the cost formula for each mixed expense.
Analyze whether the investment in the truck is profitable. Explain whether it is more beneficial for Frank to close his business. Explain what you would do in this same situation.
One offers quarterly compounding; the other compounds on a semiannual basis, which investment should he choose? Why?
What are three methods for estimating the cost of common stock from retained earnings? Which of these methods provides the most accurate and reliable estimate?
Assume the conditions from part (a) are met. Prepare the Journal entry on August 15,20X0, for Gringo to record the sale of receivable, assuming the recourse obligation has a fair value of $2,000.
during the year just ended morton company made the following expenditures relating to its plants building continuing
Define each of the following terms: Securities and Exchange Commission (SEC); registration statement; shelf registration; margin requirement; insiders.
haskins and jones attorneys-at-law maintain its books on a cash basis. during 2013 the company collected 590000 in fees
mohave corp. is considering outsourcing production of the umbrella tote bag included with some of its products. the
Which act sets the minimum wage, and what is the current wage rate?
Journalize the transactions. Explain how dividend revenue and the gain (loss) on sale should be reported in the income statement
doughboy bakery would like to buy a new machine for putting icing and other toppings on pastries. these are now put on
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