# Question: Cost Of Merchandise Sold Based On The Following Data, Determine The Cost Of Merchandise Sold For November: Increase In Estimated Returns Inventory \$14,500 Merchandise Inventory, November 1 28,000 Merchandise Inventory, November 30 31,500 Purchases 475,000 Purchases Returns And Allowances 15,000 Purchases Discounts 9,000 Freight In 7,000 \$454,500 X

Get college assignment help at uniessay writers Cost of Merchandise Sold Based on the following data, determine the cost of merchandise sold for November: Increase in estimated returns inventory \$14,500 Merchandise inventory, November 1 28,000 Merchandise inventory, November 30 31,500 Purchases 475,000 Purchases returns and allowances 15,000 Purchases discounts 9,000 Freight in 7,000 \$454,500 X

## Question: Assume That Metro Graphics Paid \$45,000 For Equipment With A 15-year E And Zero Expected Residual Vaue Ater Using The Equipment For Six Years, The Company Deteemines That The Asset Will Remain Uselul For Only Five More Years Read The Requirements Requirement 1. Record Depreciation Expense On The Equipment For Year 7 By The Straight-line Method First, …

Assume that Metro Graphics paid \$45,000 for equipment with a 15-year e and zero expected residual vaue Ater using the equipment for six years, the company deteemines that the asset will remain uselul for only five more years Read the requirements Requirement 1. Record depreciation expense on the equipment for year 7 by the straight-line method First, select the formda to calolate the company’s revbed deprecialion expense on the equipment for year 7. Then enter the amouns and caloulate the depreciation for year 7, (Enter 0 for items with a zero value) Revised depreciation Record the depreciation on the equipment for year 7 (Record debits frst then credits Select the explanation on the last ine of the joumal entry table) Date Accounts and Explanation Debit Credit Assume that Metro Graphics paid \$45,000 for equipment with a 15-year Me and zero expected residual vakue Aher uning the equipment for six years, the cempany determines that the asset will remain unehud for only fve more years Read the requirements Revised depreciation Record the depreciation on the equipment for year 7 (Record debits first, then credits Select the explanation on the last line of the jourmal entry table) Date Accounts and Explanation Debit Credit Requirement 2. What is accumulated depreciation at the end of year 77 The accumulated depreciation at the end of year 7 is

## Question: Chapter 5 Homework Save

Chapter 5 Homework Save

## Question: Scoring: Your Score Will Be Based On The Number Of Correct Matches. There Is No Penalty For Incorrect Or Missing Matches. Identity The Following By Their Type Of Quality Cost. Clear All Preventive Oosts Scrap Appraisal Costs Recalls Warranty Work Internal Failure Costs Testing External Failure Costs.

Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Identity the following by their type of quality cost. Clear All Preventive oosts Scrap Appraisal costs Recalls Warranty work Internal failure costs Testing External failure costs.

## Question: Schedule Of Activity Costs Quality Control Activities Activity Cost Process Audits \$50,000 Training Of Machine Operators 25,900 Processing Returned Products 15,100 Scrap Processing (disposal) 25,300 Rework 7,000 Preventative Maintenance 27,000 Product Design 41,400 Warranty Work 10,000 Finished Goods Inspection 22,000 From The Above Schedule Of Activity …

Schedule of Activity Costs Quality Control Activities Activity Cost Process audits \$50,000 Training of machine operators 25,900 Processing returned products 15,100 Scrap processing (disposal) 25,300 Rework 7,000 Preventative maintenance 27,000 Product design 41,400 Warranty work 10,000 Finished goods inspection 22,000 From the above schedule of activity costs, determine the value-added costs. Oa. \$223,700 Ob. \$144,300 Oc. \$166,300 Od. \$176,300

## Question: In 2017, Randa Merchandising, Inc., Sold Its Interest In A Chain Of Wholesale Outlets, Taking The Company Completely Out Of The Wholesaling Business. The Company Still Operates Its Retail Outlets. A Listing Of The Major Sections Of An Income Statement Follows: Credit \$3,040,000 281,000 Debit Item 1. Net Sales 2. Gain On State’s Condemnation Of Company …

In 2017, Randa Merchandising, Inc., sold its interest in a chain of wholesale outlets, taking the company completely out of the wholesaling business. The company still operates its retail outlets. A listing of the major sections of an income statement follows: Credit \$3,040,000 281,000 Debit Item 1. Net sales 2. Gain on state’s condemnation of company property, net of tax 3. Cost of goods sold \$1,551,448 204,000 230,000 4. Income taxes expense 5. Depreciation expense 6. Gain on sale of wholesale business segment, net of tax 7. Loss from operating wholesale business segment, net of tax 8. Loss of assets from meteor strike, net of tax 782,500 461,000 634,000 Prepare the income statement for calendar year 2017. (Loss amounts should be indicated with a minus sign.) RANDA MERCHANDISING, INC. Income Statement For Year Ended December 31, 2017 Net sales Expenses: Total operating expenses Other unusual and/or infrequent gains (losses) Discontinued segment:

## Question: 3. Complete The Below Table To Calculate The Balance Sheet Data In Trend Percents With 2015 As The Base Year. (Round Your Percentage Answers To 2 Decimal Places.) KORBIN COMPANY Balance Sheet Data In Trend Percents December 31, 2017, 2016 And 2015 2017 2016 2015 Assets 100.00 % Current Assets 100.00 Long-term Investments Plant Assets, Net 100.00 100.00 …

3. Complete the below table to calculate the balance sheet data in trend percents with 2015 as the base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2017, 2016 and 2015 2017 2016 2015 Assets 100.00 % Current assets 100.00 Long-term investments Plant assets, net 100.00 100.00 % % Total assets Liabilities and Equity of 100.00 % Current liabilities Common stock 100.00 Other paid-in capital 100.00 Retained earnings 100.00 Total liabilities and equity % % 100.00 Required information [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 \$247,400 158,336 89,064 32,657 20,534 53,191 35,873 7,282 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses \$465,359 280,146 185,213 66,081 41,882 \$356,503 226,023 130,480 49,197 31,372 80,569 107,963 77,250 14,369 Income before taxes 49,911 10,232 \$ 39,679 Income taxes \$ 28,591 \$62,881 income Net KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets \$ 53,446 4,890 61,525 Current assets \$51,103 \$39,982 700 Long-term investments Plant assets, net 97,884 103,990 \$148,987 \$144,672 \$119,861 Total assets Liabilities and Equity \$ 21,752 67,000 8,375 51,860 \$ 20,976 49,000 5,444 44,441 \$21,556 67,000 8,375 47,741 Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity \$148,987 \$144,672 \$119,861

## Question: Kai Winn Corporation Has Provided The Following Data Concerning An Investment Project That It Is Considering: Initial Investment \$370,000 Annual Cash Flow \$121,000 Per Year Expected Life Of The Project 4 Years Discount Rate 10% Question: What Is The Net Present Value Of The Project? Answer Should Be: 13,449

Get college assignment help at uniessay writers Present Value of \$1 Table All nghts reserved, No reproduction or distribution without the prior wrtten consent of McGraw-Hll Education. Copynght McGraw-Hil Education. Periods 4 % 129% 5% 6 % 7% 8% 9% 10% 11% 13% 149% 15% 16 % 17% 18 % 19% 20 % 21 % 22 6 23 % 24 6 25% 1 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.901 0.893 0.885 0.877 0.870 0.862 0.855 0.847 0840 0,833 0.826 0.820 0.813 0.806 0.800 0.925 0.907 0.890 0.873 0.857 0.842 0.826 0.812 0.797 0.783 0.769 0.756 0.743 0.731 0.718 0.706 0.694 0.683 0.672 0.661 0.650 0.640 0.889 0.864 0.840 0.816 0.794 0.772 0.751 0.731 0712 0.693 0.675 0.658 0.641 0.624 0.609 0.593 0.579 0.564 0.551 0.537 0.524 0.512 0.855 0.823 0.792 0.763 0.735 0.708 0.683 0.659 0.636 0613 0.592 0.572 0.552 0.534 0.516 0.499 0.482 0.467 0.451 0.437 0.423 0410 2 3 4 5 0.822 0.784 0.747 0.713 0.681 0.650 0.621 0.593 0.567 0.543 0.519 0.497 0.476 0.456 0.437 0419 0.402 0.386 0.370 0.355 0.341 0.328 0.790 0.746 0.705 0.666 0.630 0.596 0.564 0.535 0.507 0.4B0 0.456 0.432 0.410 0.390 0.370 0.352 0.335 0.319 0.303 0.289 0.275 0.262 7 0.760 0.711 0.665 0.623 0.583 0.547 0.513 0.482 0.452 0.425 0.400 0.376 0.354 0.333 0.314 0296 0.279 0.263 0.249 0.235 0.222 0210 0.731 0.677 0.627 0.582 0.540 0.502 0.467 0.434 0.404 0.376 0.351 0.327 0.305 0.285 0.266 0.249 0.233 0.218 0.204 0.191 0.179 0.168 0.703 0.645 0.592 0.544 0.500 0.460 0.424 0.391 0.361 0.333 0.308 0.284 0.263 0.243 0.225 0.209 0.194 0.180 0.167 0.155 0.144 0.134 0.676 0.614 0.558 0.508 0.463 0.422 0.386 0.352 0,322 0295 0.270 0.247 0.227 0.208 0.191 0.176 0.162 0.149 0.137 0.126 0.116 0.107 10 11 0.650 0.585 0.527 0.475 0.429 0.388 0.350 0.317 0.287 0.261 0.237 0.215 0.195 0.178 0.162 0.148 0.135 0.123 0.112 0.103 0.094 0.086 12 0.625 0.557 0.497 0.444 0.397 0.356 0.319 0.286 0.257 0231 0208 0.187 0.168 0.152 0.137 0.124 0.112 0.102 0.092 0.083 0.076 0.069 13 0.601 0.530 0.469 0.415 0.368 0.326 0.290 0.258 0.229 0.204 0.182 0.163 0.145 0.130 0.116 0.104 0.093 0.084 0.075 0.068 0.061 0.055 14 0.577 0.505 0.442 0.388 0.340 0.299 0.263 0.232 0.205 0.181 0.160 0.141 0.125 0.111 0.099 0088 0.078 0.069 0.062 0.055 0.049 0.044 0.555 0.481 0.417 0362 0315 0.275 0.239 0.209 0.183 0.160 0.140 0.123 0.108 0.095 0.084 0.074 0.065 0.057 0.051 0.045 0.040 0.035 15 16 0.534 0458 0.394 0.339 0.292 0.252 0.218 0.188 0.163 0.141 0.123 0.107 0.093 0.081 0.071 0.062 0.054 0.047 0.042 0.036 0.032 0.028 17 0.513 0.436 0.371 0317 0270 0.231 0.198 0.170 0.146 0.125 0.108 0.093 0.080 0.069 0.060 0.052 0.045 0.039 0.034 0.030 0.026 0.023 18 0.494 0.416 0.350 0.296 0.250 0.212 0.180 0.153 0.130 0.111 0,095 0,081 0.069 0.059 0.051 0,044 0.038 0,032 0.028 0.024 0.021 0,018 19 0.475 0.396 0.331 0277 0.232 0.194 0.164 0.138 0.116 0.098 0.083 0.070 0.060 0.051 0.043 0.037 0.031 0.027 0.023 0.020 0.017 0.014 0.456 0.377 0.312 0.258 0215 0.178 0.149 0.124 0.104 0.087 0.073 0.061 0.051 0.043 0.037 0.031 0.026 0.022 0.019 0.016 0.014 0.012 20 21 22 0.439 0.359 0.294 0,242 0.199 0.164 0.135 0.112 0.093 0,077 0,064 0,053 0.044 0.037 0,031 0.026 0,022 0.018 0.015 0.013 0,011 0,009 0.422 0.342 0.278 0.226 0.184 0.150 0.123 0.101 0,083 0068 0,056 0.046 0.038 0.032 0.026 0,022 0.018 0.015 0.013 0.011 0,009 0,007 0.406 0.326 0.262 0.211 0.170 0.138 0.112 0.091 0.074 0.060 0.049 0.040 0.033 0.027 0.022 0.018 0.015 0.012 0.010 0.009 0.007 0.006 23 24 0.390 0.310 0.247 0.197 0.158 0.126 0.102 0.082 0.066 0.053 0.043 0.035 0.028 0.023 0.019 0.015 0.013 0.010 0.008 0.007 0.006 0.005 25 0.375 0.295 0.233 0.184 0.146 0.116 0.092 0.074 0.059 0.047 0.038 0.030 0.024 0.020 0.016 0.013 0.010 0.009 0.007 0.006 0.005 0.004 26 27 28 0.361 0.281 0.220 0.172 0.135 0.106 0.084 0.066 0.053 0.042 0.033 0.026 0.021 0.017 0.014 0011 0.009 0.007 0.006 0.005 0.004 0.003 0.347 0.268 0.207 0.161 0.125 0,098 0.076 0.060 0.047 0,037 0.029 0.023 0.018 0.014 0.011 0.009 0.007 0.006 0.005 0.004 0.003 0.002 0.333 0.255 0.196 0.150 0.116 0.090 0.069 0.054 0.042 0.033 0.026 0.020 0.016 0.012 0.010 0.008 0.006 0.005 0.004 0.003 0.002 0.002 0.321 0.243 0.185 0.141 0107 0.082 0.063 0.048 0.037 0,029 0.022 0.017 0.014 0.011 0,008 0,006 0,005 0.004 0.003 0.002 0,002 0.002 0.308 0.231 0.174 0.131 0.099 0.075 0.057 0.044 0033 0.026 0.020 0.015 0.012 0.009 0.007 0.005 0.004 0.003 0.003 0.002 0.002 0.001 29 30 40 0.208 0.142 0.097 0.067 0.046 0.032 0.022 0.015 0.011 0.008 0.005 0.004 0.003 0.002 0.001 0.001 0.001 0.000 0.000 0.000 0.000 0.0000 Present Value of an Annuity of \$1 Table McGraw-H Copynght Education. All rights reserved. No reproduction or distrbuton withaut the prior wten consent of McGraw-Hl Eduoaton. 10% 11 % 12 % 13 % 15% 16% Periods 4 % 5 % 6% 7% 89% 9% 14% 17% 18% 19% 20% 219% 22 6 23% 24 % 25 % 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.901 0.893 0.885 0.877 0.870 0.862 0.855 0.847 0.840 0.833 0.826 0.820 0.813 0.806 0.800 2 1.886 1.859 1.833 1808 1.783 1.759 1.736 1.713 1.690 1.668 1.647 1626 1.805 1585 1.566 1.547 1.528 1.509 1.492 1.474 1.457 1.440 2,775 2.723 2.673 2.624 2.577 2.531 2.487 2.444 2.402 2.361 2.322 2.283 2.246 2.210 2.174 2.140 2.106 2.074 2.042 2.011 1.981 1.952 4 3.630 3.546 3.465 3.387 3.312 3.240 3.170 3.102 3.037 2.974 2.914 2.855 2.798 2.743 2.690 2.639 2.589 2.540 2.494 2.448 2.404 2.362 4,452 4.329 4,212 4.100 3.993 3.890 3.791 3.696 3.605 3.517 3.433 3.352 3.274 3.199 3.127 3.058 2.991 2.926 2.864 2.803 2.745 2.689 5.242 6.002 6.733 6.463 7,435 8,111 5.076 4.917 5.786 5.582 4.767 5.389 4.623 5.206 4.486 4.355 4.231 4.111 3.998 3.889 3.784 3.685 3.589 3.498 3.410 3.326 3.245 3.167 3.092 3.020 2.951 5.033 4.868 4.712 4.564 4423 4.288 4.160 4.039 3.922 3.812 3.706 3.605 3.508 3.416 3.327 3.242 3.161 6.210 5.971 5.747 5.535 5.335 5.146 4.968 4.799 4.639 4.487 4.344 4.207 4.078 3.954 3.837 3.726 3.619 3.518 3.421 3.329 7.108 6.802 7.722 7.360 6.515 6.247 5.995 5.759 5.537 5.328 5.132 4.946 4.772 4.607 4.451 4.303 4.163 4.031 3.905 3.786 3.673 3.566 3.463 10 7,024 6,710 6.418 6.145 5.889 5.650 5,426 5.216 5.019 4,833 4.659 4,494 4.339 4.192 4.054 3.923 3.799 3.682 3.571 11 8.760 8.306 8.863 9.986 9.394 7.887 7.499 7,139 6805 6.495 6.207 5.938 5.687 5.453 5234 5.029 4.836 4.856 4.486 4327 4.177 4.035 3.902 3.776 3.656 12 9.385 8.384 7.943 7.536 7.161 6.814 6.492 6.194 5.918 5.680 5.421 5,197 4.988 4.793 4.611 4.439 4.278 4.127 3.985 3.851 3.725 13 14 15 8.853 9.295 9.712 8.358 7.904 8.745 8.244 9.108 7.487 7.103 6.750 6.424 6.122 5.842 5.583 5.342 5.118 4.910 4.715 4.533 4.362 4.203 4.053 3.912 3.780 10.563 9.899 7.786 7.367 6.982 6.628 6.302 6.002 5.724 5,468 5.229 5,008 4.802 4.611 4,432 4.265 4.108 3.962 3.824 11.118 10.380 8.559 8.061 7.606 7.191 6.811 6.462 6.142 5.847 5.575 5.324 5.092 4.876 4.675 4.489 4.315 4.153 4.001 3.859 11.652 10.838 10.106 9447 12.166 11.274 10.477 9.763 16 8.851 9.122 8.313 7.824 7.379 6.974 6.604 6.285 5.954 5.668 5.405 5.162 4.938 4.730 4.536 4.357 4.189 4.033 3.887 8.544 8.022 7.549 7.120 6.729 6.373 6.047 5.749 5.475 5.222 4.990 4.775 4.576 4.391 4219 4.059 3.910 17 18 12.659 11.690 10.828 10.059 9.372 8.756 8.201 7.702 7.250 6.840 6.467 6.128 5.818 5.534 5.273 5.033 4.812 4.608 4.419 4.243 4.080 3.928 19 13.134 12.085 11.158 10.336 9.604 8.950 8.365 7.839 7.366 6.938 6.550 6.198 5.877 5.584 5.316 5.070 4.843 4.635 4.442 4.263 4.097 3.942 9.129 8.514 7,963 7.469 7,025 6.623 6.259 5,929 5.628 5.353 5.101 4,870 4.657 4.460 4.279 4.110 3.954 20 13.590 12.462 11.470 10.594 9.818 21 22 14.029 12.821 11.764 10.836 10.017 9.292 8.649 8.075 7.562 7.102 6.687 6.312 5.973 5.665 5.384 5.127 4.891 4.675 4.476 4292 4.121 3.963 14,451 13.163 12.042 11.061 10.2011 9.442 8.772 8.178 7.645 7.170 6.743 6.359 6.011 5.696 5.410 5.149 4.909 4.690 4.488 4.302 4.130 3.970 23 14,857 13.489 12.303 11.272 10.371 9.580 8.883 8.268 7.718 7.230 6.792 6.399 6.044 5.723 5.432 5.167 4.925 4.703 4.499 4.311 4.137 3.978 24 15.247 13.799 12.550 11.469 10.529 9.707 8.985 8.348 7.784 7.283 6.835 6.434 6.073 5.746 5.451 5.182 4.937 4.713 4.507 4.318 4.143 3.981 25 15.622 14.094 12.783 11.654 10.675 9.823 9.077 8.422 7.843 7.330 6.873 6.464 6,097 5.766 5,467 5,195 4.948 4.721 4.514 4.323 4.147 3.985 26 27 15.983 14.375 13.003 11.826 10.810 9.929 9.161 8.488 7.896 7.372 6.906 6.491 6.118 5.783 5.480 5.206 4.956 4.728 4.520 4.328 4.151 3.988- 16.330 14.643 13.211 11.987 10.935 10.027 9.237 8.548 7.943 7.409 6.935 6.514 6.136 5.798 5.492 5.215 4.964 4.734 4.524 4.332 4.154 3.990 16.663 14.898 13.406 12.137 11.051 10.116 9.307 8.602 7.984 7 .441 6.961 6.5534 6.152 5.810 5.502 5.223 4.970 4.739 4.528 4.335 4.157 3.992 16.984 15.141 13.591 12.278 11.158 1o.198 9.370 8.650 8.022 7 .470 6.983 6.5551 6,166 5,820 5.510 5.229 4.975 4.743 4.531 4.337 4.159 3.994 28 29 30 17.292 15.372 13.765 12.409 11.258 10.274 9.427 8.694 8.055 7.496 7.003 6.5566 6.177 5,829 5.517 5.235 4.979 4.746 4.534 4.339 4.160 3.995 40 19.793 17.159 15.046 13.332 11.925 10.757 9.779 8.951 8.244 7.634 7.105 6.642 6.233 5.871 5.548 5.258 4.997 4.760 4.544 4.347 4.166 3.999

## Question: I More Info – X Jan. 14 Purchased 400 Shares Of Sysky Stock, Paying \$51 Per Share. The Investment Represents 2% Ownership In Sysky’s Voting Stock. Captain Does Not Have Significant Influence Over Sysky. Captain Intends To Hold The Investment For The Indefinite Future.. Aug. 22 Received A Cash Dividend Of \$0.78 Per Share On The Sysky Stock Dec. 31 Adjusted …

i More Info – X Jan. 14 Purchased 400 shares of Sysky stock, paying \$51 per share. The investment represents 2% ownership in Sysky’s voting stock. Captain does not have significant influence over Sysky. Captain intends to hold the investment for the indefinite future.. Aug. 22 Received a cash dividend of \$0.78 per share on the Sysky stock Dec. 31 Adjusted the investment to its current market value of \$50 per share. 31 Sysky reported net income of \$250,000 for the year ended 2018 Print Done auti uE Captain Investments Balance Sheet (Partial) December 31, 2018 Current Assets: Long-term Assets: Stockholders’ Equity Accumulated Other Comprehensive Income: Requirement 3. Prepare a partial income statement for Captain Investments for year ended December 31, 2018. (Use a mi Captain Investments Income Statement (Partial) For the Year Ended December 31, 2018 Other Income and (Expenses):

## Question: Which One Of The Following Categories Of Securities Had The Highest Average Return For The Period 1926-2013? Long-term Corporate Bonds Long-term Government Bonds Small Company Stocks U.S. Treasury Bills Large-company Stocks

Which one of the following categories of securities had the highest average return for the period 1926-2013? Long-term corporate bonds Long-term government bonds Small company stocks U.S. Treasury bills Large-company stocks

## Question: O Search View Help I 2 3 5 Grant Co. Had The Following Liabilities At December 31, The End Of Its Fiscal Year: \$56,000 Accounts Payable 12,200 Salaries Payable 8,900 Unearned Fees 3,200 Income Taxes Payable Notes Payable The Note Payable Is An 8-year Note With \$30,000 Due In The Next Year. Prepare The Liabilities Section Of The Balance Sheet For The …

O Search View Help I 2 3 5 Grant Co. had the following liabilities at December 31, the end of its fiscal year: \$56,000 Accounts Payable 12,200 Salaries Payable 8,900 Unearned Fees 3,200 Income Taxes Payable Notes Payable The note payable is an 8-year note with \$30,000 due in the next year. Prepare the liabilities section of the balance sheet for the company. 240,000 Grant Co, Balance Sheet December 31 Current liabilities: Total current liabilities: Long- term liabilities Total liabilities Martin Jackson receives an hourly wage rate of \$15, with time and a half for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 47: federal income tax withheld, \$311; social security tax rate, 6.0% ; and Medicare tax rate, 1.5% , What is the net amount to be paid to Jackson? a. \$1,042.19 b. \$757.50 C. \$389.69 d. \$1.000.69 a

## Question: E WmniT Be Reported On The Balance Sh More Info X Ct Re 2018 6 Purchased 2,000 Shares Of Peaceful Stock At A Price Of \$36.00 Per Share, Intending To Sell The Investment Next Month. Hartford Did Not Have Significant Influence Over Peaceful 23 Received A Cash Dividend Of \$1.20 Per Share On The Peaceful Stock Dec. 31 Adjusted The Investment To Its Market …

e wmniT Be reported on the balance sh More Info X ct re 2018 6 Purchased 2,000 shares of Peaceful stock at a price of \$36.00 per share, intending to sell the investment next month. Hartford did not have significant influence over Peaceful 23 Received a cash dividend of \$1.20 per share on the Peaceful stock Dec. 31 Adjusted the investment to its market value of \$20.00 per share. 2019 Jan. 27 Sold the Peaceful stock for \$21.50 per share. Print Done Requirement 2. On December 31, 2018, how would the Peaceful stock be classified and at what value would it be reported on the balance sheet? The Peaceful stock would be classified as a of S on the December 31, 2018, balance sheet

## Question: Springer Anderson Gymnastics Prepared Its Annual Financial Statements Dated December 31. The Company Reported Its Inventory Using The LIFO Inventory Costing Method But Did Not Compare The Cost Of Its Ending Inventory To Its Market Value (replacement Cost). The Prelimiary Income Statement Follows: Assume That You Have Been Asked To Restate The Financial …

Springer Anderson Gymnastics prepared its annual financial statements dated December 31. The company reported its inventory using the LIFO inventory costing method but did not compare the cost of its ending inventory to its market value (replacement cost). The preliminary income statement follows: Sales Revenue \$124,000 Cost of Goods Sold Beginning Invento \$11,000 83,000 Purchases Goods Available for Sale Ending Inventory 94,000 20,700 Cost of Goods Sold 73,300 Gross Profit 50,700 27,000 Operating Expenses Income from Operations Income Tax Expense (35%) 23,700 8,295 Net Income 15,405 Assume that you have been asked to restate the financial statements to incorporate the LCM/NRV rule. You have developed the following data relating to the ending inventory Purchase Cost Replacement Cost per Unit Item Quantity 2,400 700 2,700 2,400 Per Unit Total \$2.20 5,280 2,100 3,240 10,080 \$3.20 B 3.00 1.20 C 1.20 0.60 4.20 2.20 \$20,700 Required: 1. Restate the income statement to reflect LCM/NRV valuation of the ending inventory. Apply LCM/NRV on an item-by-item basis. 2. Compare the LCM/NRV effect on each amount that was changed in the preliminary income statement in requirement 1 Restate the income statement to reflect LCM/NRV valuation of the ending inventory. Apply LCM/NRV on an item-by-item basis. SPRINGER ANDERSON GYMNASTICS Income Statement (LCM/NRV basis) For the Year Ended December 31 Sales Revenue Cost of Goods Sold: Beginning Inventory Purchases Goods Available for Sale Ending Inventory Cost of Goods Sold Gross Profit Operating Expenses Income from Operations Income Tax Expense Net Income Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compare the LCM/NRV effect on each amount that was changed in the preliminary income statement in requirement 1. (Decreases should be indicated by a minus sign.) Amount of LIFO Cost LCM/NRV Basis Item Changed Increase Basis (Decrease) Ending Inventory Cost of Goods Sold Gross Profit Income from Operations Income Tax Expense Net Income

## Question: S Ncluded Seperulely Prced Trnsportaton Custs Foe Shippeng To Destinaion, Delermine Uhe Ewulusled Price The Lollowing Three Ollers Were Received In Response Lo U Soliclation. Award Will Be Made Lo Uhe Kowest Priced Lechnically Acceptable Oller. All Uhree Ollers Were Delermined To Be Lectnically Aceptable. Tu Ol Uhe Olle Rarad Thanoe Which Offorors Should …

s ncluded seperulely prced trnsportaton custs foe shippeng to destinaion, Delermine Uhe ewulusled price The lollowing three ollers were received in response lo u soliclation. Award will be made lo Uhe kowest priced lechnically acceptable oller. All Uhree ollers were delermined to be lectnically aceptable. Tu ol Uhe olle Rarad thanoe which offorors should et the award Oferur ub Paiat Otier Transpurtalion Cost Ealualed Price Orivin \$22320 Dstination 215.000 Awrd lo Oer . A and half to ofcrar B kuard to Oorne Pward to OterorC

## Question: 2a) Maxim Works As A Plumber In The Eastern Suburbs Of Melbourne And He Has Paid A \$10,000 Deposit To A Car Dealer For New Nissan Utility, Which Will Cost \$50,000 In Total, A Very Good Price For That Model Car. He Has Been Waiting For The Car To Be Delivered By The Manufacturer For Two Months And Recently The Car Dealer Closed Its Business. Worried …

2a) Maxim works as a plumber in the Eastern suburbs of Melbourne and he has paid a \$10,000 deposit to a car dealer for new Nissan utility, which will cost \$50,000 in total, a very good price for that model car. He has been waiting for the car to be delivered by the manufacturer for two months and recently the car dealer closed its business. Worried that he has lost his money, Maxim wants to take the dealer to court. Advice Maxim on which type of court he should take his case to? (9 Marks) b) A shareholder in a registered company is entitled to several rights Outline and briefly explain the rights in which a shareholder can enjoy in a registered company. (8 Marks) c) Explain the pre-emption right process? (3 Marks)