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The Merchandise Inventory account has a debit balance of $725,000.00. They determine that they have $139,500.00 in their inventory count. Cost of Goods sold indicate $576,000.00. There are two sheets at the service desk of interest. One sheet indicates the items removed from Merchandise Inventory for use within the store, these items should be part of the Store Supplies account. This sheet shows a value of $5,500.00. The other sheet shows known shrinkages identified during the period. This sheet shows $3,250.00. Neither of these sheets has been journalized Required:
(i) Identify the unknown, and previously unidentified shrinkage value. (ii) Journalize the transfer to Store Supplies and the recognition of all shrinkages (known and unknown).
Kari's Kookies has total costs of $5,000 when 2,000 units are produced and $11,000 when 5,000 units are produced. Find the variable cost per unit?
Z later sells the land to another outside party for $40,000 (T3). Assume that only T1 and T2 are completed during the current period. Illustrate what is the amount of gain reported in A Company's consolidated financial statements?
Selected balance sheet and income statement data for Green Tea, Inc., for the year ended December 31, 2011 are below. Illustrate what is the company’s times interest earned ratio?
Discuss the types of liabilities Intel has incurred.Which liabilities are the most significant to the company? Have there been significant changes to the liability and equity structure from 2003 to 2004?
Evaluate the statement of cash flows for the Decker Uniform Co.
The truck's annual license is $120. The truck undergoes safety testing for $220. Illustrate what does Arnold record as the cost of the new truck?
Probability of Audit - What judicial concept might the IRS invoke to question this transaction
Evaluate the profitability of each product after allocating joint costs.
The city purchased new computer equipment costing $19,000 by paying $3,000 in cash and signing a long-term note payable for $16,000.
The company uses a periodic inventory system. On December 31, 2011, a physical count reveals that 35,000 units of its product remain in inventory. Calculate the number and total cost of the units available for sale in year 2011
Is this a fair assessment? Does type of organization impact the relevancy of a balanced scorecard's four components? Explain.
what is its cost of common equity and what will be the firm's cost of common equity using the CAPM approach
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