User Account

All Pages

How much should be inventory to external reporting purposes

Assignment Help Accounting Basics
Reference no: EM132668733

Lala Co. year end manufacturing costs were as follows:

Direct Materials and Direct Labor -------------------- P 500,000

Depreciation of manufacturing equipment --------- P 70,000

Depreciation of factory building ----------------------- P 40,000

Janitor's wage for cleaning the factory premises --- P 15,000

Problem 1: How much of these costs should be inventoried to external reporting purposes?

Reference no: EM132668733

Questions Cloud

How can a dishonest store clerk steal from Yorkshire : How can a dishonest store clerk steal from Yorkshire? What part of company policy enables the store clerk to steal without getting caught
Promotion and pricing strategies : Identify its primary target market. Specify three methods you will use to research customer needs and wants.
What are the equivalent units of production for month of aug : Blue Company production, Using the average cost method, what are the equivalent units of production for the month of August (Conversion)?
What is the cost of goods manufactured for the current year : Sheraton Company reported the following information for the current year: Ending goods in process P1,000,000. What is the cost of goods manufactured
How much should be inventory to external reporting purposes : How much of these costs should be inventoried to external reporting purposes? Lala Co. year end manufacturing costs were as follows
Create separation to build connection : Why is important to create separation to build a connection? How does Adam practice this, and how can you achieve this in your life ?
What the carrying amount of the asset on december : If ABC Co. chooses to account for the grant as an adjustment to the asset, the carrying amount of the asset on December 31, 2018 statement of financial position
Which internal control is most likely to audit of statements : Which internal control is most likely to an audit of financial statements? Which s not an assurance to be provided by an effective internal control system
Determine the consolidation worksheet entries : Determine the consolidation worksheet entries in the following year, assuming the inventory has been -sold, and explain the adjustments on a line-by-line basis

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the following employer payroll taxes for the year

gridiron concepts co. began business on january 2 2013. salaries were paid to employees on the last day of each month

  Accounting for social clubs

What financial information are such clubs likely to collect and maintain? Assuming that the club keeps manual accounting records; would you consider such systems accounting information systems? Why or why not?

  Determine economic impact on capital flows

Economic Impact on Capital Flows How do you think the weaker U.S. economic conditions could affect capital flows?

  Prepare the client engagement letter

Case study - Cloud Auditing. Assume the decision is made to accept Cloud 9 as a client. Prepare the client engagement letter

  Bayliner company acquired the plant asset at beginning of

bayliner company acquired a plant asset at the beginning of year 1. the asset has an estimated service life of 5 years.

  What is the teddy bear company''s current monthly profit

The Teddy Bear Child Care Company operates a day-care facility. What is the Teddy Bear Company's current monthly profit

  Information available regarding the lease

On January 1, 2011, Larsen Corporation sold a machine to Parson Corporation and simultaneously leased it back for ten years. The following information is available regarding the lease:

  What is the amount of impairment loss

Present value of expected future cash flows €63000. Using IFRS (IAS 36), what is the amount of Impairment Loss

  What is simss taxable gain on the sale

She lived continuously in the home since she purhcased it. In December, 2016 she sells her home for $405,000. What is Sims's taxable gain on the sale

  What percent of sales would your IMC expenditures represent

If your competitor expects to increase their IMC spending by 10% and you match this spending, what percent of sales would your IMC expenditures represent

  Determine the number of units the company must sell

We're using a different fictitious company for the last two modules, Determine the number of units the company must sell to break even for the year

  A company originally recorded prepaid rent as of the end

a company originally recorded prepaid rent. as of the end of the accounting year part of this is no longer prepaid. if

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd