User Account

All Pages

What amount should Vaughn report as its December inventory

Assignment Help Financial Accounting
Reference no: EM132946144

Question - Vaughn Company took a physical inventory on December 31 and determined that goods costing $230,000 were on hand. Not included in the physical count were $22,000 of goods purchased from Pelzer Corporation, FOB shipping point, and $19,000 of goods sold to Alvarez Company for $27,000 FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Vaughn report as its December 31 inventory?

Reference no: EM132946144

Questions Cloud

What is the minimum value of X : What is the minimum value of X (number of years) for which Kunkle will consider the investment a success? Assume that Kunkle can't invest for fractional parts
How much will need to save per quarter : How much will you need to save per quarter so that your child will have enough funding for college? (Assume: Tuition payments are made ONCE per year)
Depiction of a multi-dimensional complex situation : Write a comprehensive report that helps resolve the problem that they have introduced in MGT603 Assessment 1 (Part A) for their selected case organisation
Why is comprehensive income important : Question - Why is comprehensive income important? What can we learn from accumulated other comprehensive income (AOCI)
What amount should Vaughn report as its December inventory : Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Vaughn report as its December 31 inventory
Explain conflict of values : Consider your own personal top five to ten ethical values that are your highest priority. That is, if there were a conflict of values (e.g., not wanting to lie
What are the effects on net income : At the end of three months, the spot rate is $1.38 per euro, What are the effects on net income from these transactions
Explain the disadvantage of using direct write-off method : Explain the disadvantage of using the direct write-off method for dealing with uncollectable accounts (besides that it violates GAAP's matching principle).
What would be the equity value of delta to alpha : What would be the equity value of Delta to Alpha. And it is expected to grow thereafter at 5% annually. Note that Delta has $20 million in debt and 10 million.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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