What information do i need to consider when doing an income

Assignment Help Accounting Basics

Reference no: EM13569891

What information do I need to consider when doing an income statement and the following has occured, One client had indicated that theywere interested in purchasing $45,500 worth of products , so the bookkeeper recorded the transaction. However, the client has not actually committed to the prchased. So the bookkeeper already corrected the salesaccount, however, the bookkeeper may have madea mistake when computing cost of goods sold. She indicated total production costs for 2012 and did not adjust ending inventory for the $45, 500 worth of units left at the end of the year. The amount of ending inventory was determined using a physical cost. What additional information needs to be considered. I have to explain adjustments seperately?

Reference no: EM13569891

Questions Cloud

Segment variable costing income statement and effect on : segment variable costing income statement and effect on income of change in operations extreme camping company

Circle k furniture has a contribution margin ratio of 16 : circle k furniture has a contribution margin ratio of 16. if fixed costs are 176800 how many dollars of revenue must

On december 31 of the current year hewett company reported : on december 31 of the current year hewett company reported an ending inventory balance of 215000. the following

During the current year george recognizes a 30000 section : during the current year george recognizes a 30000 section 1231 gain on sale of land and a 18000 section 1231 loss on

What information do i need to consider when doing an income : what information do i need to consider when doing an income statement and the following has occured one client had

2010 analysis budget for terrebone parish include the : 2010 analysis budget for terrebone parish. include the expected accomplishments and outcomes.the budget summary major

Weinberg canning produces fillets smoked salmon and salmon : weinberg canning produces fillets smoked salmon and salmon remnants in a single process. the same amount of disposal

Globalcom has cash of 75000 short-term notes payable of : global.com has cash of 75000 short-term notes payable of 100000 accounts receivables of 275000 accounts payable of

Clark a 12-year-old child lives with his parents during the : clark a 12-year-old child lives with his parents. during the current year clark earned 2400 delivering newspapers. this

User Account

All Pages