User Account

All Pages

What the value of these inventories are decreased

Assignment Help Accounting Basics
Reference no: EM132992261

Questions -

Q1. If Stafford Ltd has interest in Joint operation and provided plant to SmartTool (joint operation). the values of inventories at joint operation include: Finished goods 10000, Transferred inventory 150000. Based on this, the cost of inventory of joint operation is:

a. 140000

b. 120000

c. 100000

d. 160000

Q2. If Stafford Ltd has a 50% of interest in Joint operation and provided plant to SmartTool (joint operation) with a carrying value of 2000,000 and fair value of 3,000,000, with an expected life of 10 years. If the value of inventories at joint operation were as follow: Work in process (WP) 70,000, Finished goods 70,000, and Transferred inventory 35,000. What the value of these inventories are decreased at the book of Stafford Ltd?

a. WP of 20,000, finished goods of 20,000, transferred inventory of 10,000

b. None of the given choices

c. WP of 20,000, finished goods of 10,000, transferred inventory of 20,000

d. WP of 10,000, finished goods of 20,000, transferred inventory of 20,000

Reference no: EM132992261

Questions Cloud

Discuss at least three types of security issues : Discuss at least three types of security issues that your chosen company might encounter with the technology it has and how to protect itself.
What are the navigability symbols : What are the navigability symbols and what do they represent - Why are references to other objects not shown as attributes in class models
Good job of communicating plan : In strategic planning, what components would you consider necessary for creating a strategic plan?
Standard business model canvas and business case : Ghana National Gas Company Limited (Ghana Gas) has a policy to setaside a revolving fund of one million United State dollars ($1,000,000) to invest in a communi
What the value of these inventories are decreased : Work in process (WP) 70,000, Finished goods 70,000, and Transferred inventory 35,000. What the value of these inventories are decreased at the book of Stafford
How is a design class represented in uml : What is an association class and how is it represented in UML and How can a class diagram with association classes be converted to an equivalent class diagram
Calculate amount of debt that management of super express : Calculate the amount of debt that the management of Super Express will be issuing. Give your answer in dollars to the nearest dollar.
Describes the value of the company : A company currently has a 100% equity structure. Describes the value of the company if the company adds debt to its capital structure.
Prepare a cash budget for the first quarter of the year : Prepare a cash budget for the 1st Quarter of the year. A loan received from ABM Financing at the beginning of the year in January is RM20,000.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute the direct labor variance

Required: Compute these variances: (a) variable overhead spending and efficiency, (b) fixed overhead spending and volume, and (c) total overhead controllable.

  Determine the amount of equity to report

Use the following information for Meeker Corp. to determine the amount of equity to report. Cash $68,000 Buildings 124,000 Land 204,500 Liabilities 129,500

  Prepare journal entries to record foregoing transactions

Prepare journal entries in good form to record the foregoing transactions for the fiscal year ended June 30, 2011.

  Entry to record depreciation for the nine

a. What was the book value of the equipment at December 31, 2014, the end of the year? b. Assume that the equipment was sold on October 1, 2015, for $783,700. 1. Journalize the entry to record depreciation for the nine months until the sale date.

  Which plant operating at capacity suggest that most likely

Which plant operating at capacity would suggest that most likely? every machine and person in the plant is working at the maximum possible rate.

  Compute packrat budgeted sales

Suppose Packrat sells 1,200 hardcover books per day at an average price of $45. Assume that Packrat's cost for the books is 55% of the selling price.

  Calculate the amount of the Federal income tax

Landscaping, Inc., remits all of its after-tax profits each year to Initiate. Calculate the amount of the Federal income tax, if any, for Initiate

  What is a stock spin-off

In very general terms, explain how a stock spin-off works. Are these spin-offs of any value to investors? Explain.

  Plan in the dealership strategic best interest

The representatives are paid no salary, but they receive 20 percent of the sales price of every boat sold, and they have the authority to negotiate the boats' prices as far down as their wholesale cost if necessary. Is this plan in the dealership'..

  What is the firm after-tax component cost of debt

The company's federal-plus-state tax rate is 25%. What is the firm's after-tax component cost of debt for purposes of calculating the WACC

  Jepson electronic center began july with 90 units of

jepson electronic center began july with 90 units of merchandise inventory that cost 70 each. during july the store

  Which dividends in arrears on cumulative preference shares

Which Dividends in arrears on cumulative preference shares? are not considered to be a liability but should be disclosed in the notes to the financial statement

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