User Account

All Pages

Stallman company took a physical inventory on december 31

Assignment Help Accounting Basics
Reference no: EM13580822

Stallman Company took a physical inventory on December 31 and determined that goods costing $275,260 were on hand. Not included in the physical count were $31,540 of goods purchased from Pelzer Corporation, f.o.b. shipping point, and $28,940 of goods sold to Alvarez Company for $39,800, f.o.b. destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Stallman report as its December 31 inventory?

Reference no: EM13580822

Questions Cloud

Forty percent of fixed manufacturing overhead consists of : during heaton companys first two years of operations the company reported absorption costing net operating income as
Biando corporation began operations on may 1 2010 and : biando corporation began operations on may 1 2010 and completed the following transactions during its first month of
Indicate the balances in the three stockholders equity : on october 1 chile corporations stockholders equity is as follows.common stock 4 par
Allocate the depreciation intrest and taxes occupancy costs : 1. allocate occupancy costs to the diaz and wright departments using the current allocation method.2. allocate the
Stallman company took a physical inventory on december 31 : stallman company took a physical inventory on december 31 and determined that goods costing 275260 were on hand. not
On the first day of its fiscal year elbert company issued : on the first day of its fiscal year elbert company issued 50000000 of 10-year 7 bonds to finance its operations.
A stockbroker advises a client to buy preferred stocku2026 : a stockbroker advises a client to buy preferred stocku2026. with that type of stocku2026 you will never have to worry
Why are investments in marketable securities shown : why are investments in marketable securities shown separately from cash equivalents in the balance
Zeta corporation and its subsidiary reported consolidated : zeta corporation and its subsidiary reported consolidated net income of 320000 for the year ended december 31 20x8.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Briefly discuss the operating performance

Briefly discuss the operating performance and financial positions of Sepracor Industry averages for these ratios in 2007 were ROA 3.5%; Return on Equity 16%; and Debt to Assets 75%. Based on this analysis, would you make an investment in the compa..

  Real estate rental activity

Tina, an unmarried taxpayer, has $80,000 in salary, $10,000 in income from a limited partnership, and a $26,000 passive loss from a real estate rental activity in which she actively participates. Her modified adjusted gross income is $80,000. Of t..

  Assume that a management consultant has established a goal

chocolate delights company produces baking chocolate for use by commercial organizations. the company is analyzing its

  Discuss the current and long term liabilities

What are the three conditions behind contingent liabilities and give an example of each case.

  Prepare a trading and profit and loss account

Write off a further sum of Rs 200 as bad debts from the debtors - Salaries Rs 600 and taxes Rs 400 are outstanding - you are required to prepare a Trading and Profit and Loss Account for the year ended

  Total direct labor variance

The standard labor time for the Cutting and Sewing departments is 0.20 hour and 0.30 hour per unit, respectively.What is the total direct labor variance for (1) the cutting department?

  Using the high-low method calculate the total fixed cost

sherris tan-o-rama is a local tanning salon. the following information reflects its number of appointments and total

  Discuss likely accounting-based reasons which contribute to

the press report carried the following news item general motors ford and chrysler are expected to post losses on

  A static budget should be compared to actual costs to

a static budget should be compared to actual costs to assess how well costs were controlled should be compared to a

  Use the financial information from eric and ian company to

for the year ending 12312013sales revenue100000less cost of goods sold-60000equals gross margin40000operating

  Prepare schedules for expected collections

Prepare schedules for expected collections from customers and expected payments for direct materials purchases - prepare a cash budget for January and February in columnar form.

  A manufacturing company uses a job order costing account

a manufacturing company uses a job order costing account system. overhead is applied using pounds of direct materials

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