User Account

All Pages

Inventory records of yellow corporation

Assignment Help Financial Accounting
Reference no: EM133234250

1. The inventory records of Yellow Corporation show the following purchases during its first quarter of operations:

January: 15,000 units, P172,500
February: 25,000 units, P293,750
March: 10,000 units, P133,750

The March 31, inventory using the weighted average method is P180,000. What is the March 31, inventory using the first-in, first-out method?

2. On July 1, 2021, Orange Company, purchased 10,000 ordinary shares of Juce Corporation at P150 per share. At the time of the purchase, Juce Corporation has 50,000 outstanding shares with a total shareholders' equity of P7,500,00.  With this purchase, Orang has the ability to exercise significant influence over Juce. During the year 2021, Juce reported profit of P3,000,000 and declared and paid cash dividends of P50 per share.  The fair value of Juce Corporation's ordinary share at December 31, 2021 was P170 per share. At its December 31, 2021 statement of financial position, what amount of investment in Juce Corporation was reported by Orange company

Reference no: EM133234250

Questions Cloud

What amount of equity should be recorded : What amount of equity should be recorded in the consolidated statement of financial position?
How does this impact you as a healthcare administrator : d. Articles can come from a variety of sources. These do not have to be from peer reviewed journals. EX: daily chronicle, newspaper, easy access Google/Yahoo he
What is one company you truly admire : 1. Cite an example of a publicly-traded company that lists two risk factors in their 10-K that you think will become greater liabilities for them in the near fu
How much is the retirement benefit expense for the year : 1. Brown Corporation owns an office building and leases the offices under a one-year rental agreement. Not all tenants make timely payments of their rent. The
Inventory records of yellow corporation : 1. The inventory records of Yellow Corporation show the following purchases during its first quarter of operations:
Find compounded monthly is charged : Shamrock Inc. was supposed to have received a payment of $19,000, 5 years ago, and $12,500, 2 years ago, from a customer who could not make either payment as sc
Summarize of congressional support for epa challenges : Summarize of Congressional Support for EPA's Challenges FY2023 Budget appropriation.
Budgeting-financial management : Budgeting/Financial Management: The Finance team has a set budget for training above. You are told by a staff member that trainees are saying the transport subs
Consistent with gasb accounting standards : Consistent with GASB accounting standards, how should governments report their capital projects and debt service activities in their government-wide financial s

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is the cost of raw liquid plastic

Your company manufactures plastic pails, What is the cost of raw liquid plastic that should be charged to the 2020 (Jan to Dec) Income Statement?

  What must the average beta of the new stocks added

What must the average beta of the new stocks added to the portfolio be to achieve desired required rate of return? A mutual fund manager has a $150.0 million.

  Compute the issue price of the bonds

Whiteside Corporation issues $603,000 of 9% bonds, due in 12 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%. Compute the issue price of the bonds

  Evaluate the 2012 cost of goods sold

Evaluate the 2012 cost of goods sold using the LIFO method and find what method would you recommend to owner to minimize income taxes in 2012, using inventory information for footballs as a guide?

  Does it make a difference if the south carolina plant

Which method, as presented in your text, should be used in this instance and why? Does it make a difference if the South Carolina plant has no idle capacity?

  Record the dialy transactions for the month of may

You are to open the books of F. Polk, a trader, via the journal to record the assets and liabilities, and are then to record the dialy transactions for the month of May. A trial balance is to be extracted as on 31 May 2017.

  How many tons were started and completed during October

The ending work in process inventory on October 31 was 2,200 tons. How many tons were started and completed during October

  Make journal entry for the stock of the company

The campany's authorized stock is 7,450,938 the par value is $7. The capmany's outstanding shares is 6,470,242. Make journal entry for the stock of the company

  Find Cisco weighted average cost of capital

Assume that Cisco's bonds have no floatation costs, but the cost of issuing equity is 3.5%. Find Cisco weighted average cost of capital

  What will be its new level of accounts receivable

Brenmar's current assets equal $1.6 million, If Brenmar reduces its average collection period to 20 days, what will be its new level of accounts receivable

  How are current assets different from non-current assets

How are current assets different from non-current assets? Can you provide an example of each? How are current liabilities different from non-current liabilities

  Determine the the double-declining-balance rate

A building acquired at the beginning, Determine the The double-declining-balance rate(percentage), The double-declining-balance depreciation for the first year

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