User Account

All Pages

What was the amount of inventory at january at cost

Assignment Help Financial Accounting
Reference no: EM132643059

At the end of 2016, the branch reported an inventory of P15,625. The home office bills this branch at 130% of cost. During 2017, goods costing P300,000 were shipped to the branch. The account "allowance for overvaluation of branch inventory" after adjustment, shows a balance of P16,250 at the end of the year.

Problem 1: What was the amount of inventory at January 1, 2017 at cost?

Reference no: EM132643059

Questions Cloud

Calculate the binding department : Cafeteria Services has costs of $140,000 and are allocated to production departments based on their number of employees. Calculate the Binding Department
Design plan on a cloud web server : Make a proposal (design plan) on a cloud web server which hosts your homepage - Would you suggest mobile cloud computing model for following scenarios?
What was the amount of ending inventory at billed price : What was the amount of ending inventory at billed price? The account "allowance for overvaluation of branch inventory" after adjustment, shows a balance
Explain why you would recommend drug therapy plan : Explain your diagnosis for the patient, including your rationale for the diagnosis. Justify why you would recommend this drug therapy plan for this patient.
What was the amount of inventory at january at cost : What was the amount of inventory at January 1, 2017 at cost? The account "allowance for overvaluation of branch inventory" after adjustment, shows a balance
What the adjusted balance of the reciprocal accounts is : The balance in the home office books of its Cebu Branch Current account was debit balance of P165,920. The adjusted balance of the reciprocal accounts is
Specific ideology and political culture : Throughout the semester you have been learning about government and its actions. You have realized that, because of your specific ideology and political culture
Examine the patient symptoms presented in the case study : Develop a 1- to 2-page case study analysis, examine the patient symptoms presented in the case study. Be sure to address the following.
Find net adjustment in cebu books related to home office : Find What net adjustment in Cebu's books related to Home Office account is? Cebu recorded a debit memo from Home Office of P4,650 as P4,560.

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