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!
Premier Bank and Trust is giving Alou Company a loan. Before doing so, management decides that added discussions with Alou's accountant may be desirable. One area of particular concern is inventory account, which has a year-end balance of $297,000. Discussions with accountant reveal the subsequent. 1. Alou sold goods costing $ 38,000 to Comerico Company, FOB shipping point, on 28th December. The goods are not expected to arrive at Comerico until 12th January. The goods were not included in physical inventory because they were not in warehouse. 2. The physical count of inventory did not include goods costing $95,000 that were shipped to Alou FOB destination on 27th December and were still in transit at year-end. 3. Alou received goods costing $19,000 on January 2. The goods were shipped FOB shipping point on 26th December by Grant Co. The goods were not included in physical count. 4. Alou sold goods costing $35,000 to Emerick Co., FOB destination, on 30th December. The goods were received at Emerick on January 8. They were not included in Alou's physical inventory. 5. Alou received goods costing $44,000 on 2nd January that were shipped FOB shipping point on 29th December. The shipment was a rush order that was supposed to arrive 31st December. This purchase was included in the ending inventory of $297,000.
Evaluate the correct inventory amount on 31st December.
Purpose a complete single-step income statement for the company and multiple-step income statement for the company (including gross margin, pretax income, and earnings per share)
Calculation of Allowance for doubtful accounts and Allowance for doubtful accounts, Bad debt expense and Account receivable
Posting of journal entries to appropriate accounts and prepare an unadjusted trial balance and Bill transferred $15000 from personal account into business account
NFP's flexible budget allows how many kg's of inputs for the most current operating period
Determine the estimated break-even point in annual unit sales of the new product if Martinez Company uses the: Capital-intensive manufacturing technique.
Journal entries for Purchased on account Merchandise Inventory to be held for resale
Evaluate clients financial statement balance for inventory
Depict the regression line on your graph. Use your graph to calculate the regression line using the criteria of economic plausibility, goodness of fit as well as significance of the independent variable.
Evaluate amount of current liabilities does this firm have and How much long-term debt does the firm have
Journalize the closing entries at April 30 and Post the closing entries to Income Summary and Retained Earnings. Use T accounts.
Purpose a Master (Static) Budgeted Income Statement using variable costing
Multiple choice questions on basic accounting principle and Which of the following account groups are all considered nominal accounts, What type of account is Prepaid Rent
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