User Account

All Pages

What the amount allocated to the ending inventory on June

Assignment Help Financial Accounting
Reference no: EM132966542

Question - Sunland Company just began business and made the following four inventory purchases in June: June 1144 units $1000

June 10192 units 1500

June 15192 units1610

June 28144 units 1270

$5380

A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the average cost method, what the amount allocated to the ending inventory on June 30?

Reference no: EM132966542

Questions Cloud

Analyze effect of these transaction on accounting equation : On January 1, 2020, Rajdeep started Quality Photo company. Analyze the effect of these transaction on the accounting equation
Designing a system of internal controls : Explain in your own words how this represents good practice in designing a system of internal controls.
Describe the information communicated : Search the web for an eco-label for a product that interests you. Describe the information communicated through the label and how it relates to sustainability.
Examples of different cultures at each extreme : Hostede has suggested five dimensions of culture. Come up with another, different from any of Hostede's or other scholars', and explain it in detail. Give examp
What the amount allocated to the ending inventory on June : A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the average cost method, what the amount allocated
Was the mistake offensive to the local population : Would you mind helping me select a well-known US Business that has had problems in the global marketplace? It could be a cultural issue, a legal issue or an eth
Prepare the journal entry to update the cash account : Prepare the journal entry to update the Cash account based on the reconciliation and spreadsheet to prepare a bank reconciliation for June 30.
Typical risks associated with managing business resources : 1.Why is it important to understand the strategic objectives of the organisation and the objectives of the individual business units when managing business reso
Construct a strategic group map : Below you will find a list of global automotive manufacturers. If you are unfamiliar with the company please conduct a cursory review of outside publications, r

Reviews

Write a Review

Financial Accounting Questions & Answers

  Compute the balance of the fair value of plan assets

Contributions to the retirement fund during the year 120,000. Compute the balance of the fair value of plan assets as of year-end

  Find the loan payoff amount

The total finance charge was $8129.96. After 22 months, Barbara decided to pay off the loan. Use Rule of 78 to find the loan payoff amount.

  What is the balance in common stock appearing

What is the balance in Common Stock appearing on the statement of stockholders' equity on December 31?

  Relational database model to the REA data model

Your firm wants to move from a relational database model to the REA data model. Explain to your senior management the risks and rewards of such of a move. Be sure to provide specific examples to support your response.

  What amount of interest revenue from the lease

Farm had purchased the equipment for $110,000. What amount of interest revenue from the lease should Farm report in its 20X4 income statement?

  Prepare the journal entries for the declaration date

Prepare the journal entries for the declaration date and the distribution date. The board of directors declared a 6% share dividend to shareholders

  Prepaid insurance expense account at year-end

What is the effect on the financial statements when a company fails to adjust the prepaid insurance expense account at year-end for insurance coverage that has been used?

  Tootsie rolls recent income statement and balance sheet

The following items were listed on Tootsie Roll's recent income statement and balance sheet. For each item, indicate (1) the type of account (A = asset, L = liability, SE = stockholders' equity, R = revenue, E = expense) and (2) whether it is reporte..

  What entry will be made on the books of abc co

ABC Co. sold a $50,000 bond issue at face value on October 1, 20X2, What entry will be made on the books of ABC Co. when it issues the bonds on October 1, 20X2?

  What price did pay for bond

The current market rate of return is 06.00%. The bond is callable in 3 years with a $88 call premium. What price did you pay for your bond?

  Record the transaction will consist of a debit to cash

The Sneed Corporation issues 10,000 shares of $50 par value preferred stock for cash at $75 per share. The entry to record the transaction will consist of a debit to Cash for $750,000 and a credit or credits to:

  Calculate the? firm weighted average cost of capital

Calculate the? firm's weighted average cost of capital where the? firm's borrowing rate on debt is 8.6 ?percent, it faces a 35 percent tax? rate

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