The accounting records of Wall’s China Shop reflected the
following balances as of January 1, Year 3:
| Cash | $ |
18,300 |
||
| Beginning inventory | 17,400 | (200 @ $87) | ||
| Common stock | 15,600 | |||
| Retained earnings |
20,100 |
|||
The following five transactions occurred in Year 3:
Required
a. Compute the cost of goods sold and ending
inventory, assuming (1) FIFO cost flow, (2) LIFO cost flow, and (3)
weighted-average cost flow. Compute the income tax expense for each
method.
b. Use a vertical model to show the Year 3 income
statement, balance sheet, and statement of cash flows under FIFO,
LIFO, and weighted average. (Hint: Record the events under
an accounting equation before preparing the statements.)
I need the Retained earnings for the FIFO LIFO AND WA? please it is not 20100
also I need in the cash flow statement I need the cash flows investing activity and plus; beginning cash balance ?
AND THIS QUESTION;;
At the end of the year, Randy’s Parts Co. had the following
items in inventory:
| Item | Quantity | Unit Cost | Unit Market Value |
||||||||
| P1 | 60 | $ | 85 | $ | 90 | ||||||
| P2 | 40 | 70 | 72 | ||||||||
| P3 | 80 | 130 | 120 | ||||||||
| P4 | 70 | 125 | 130 | ||||||||
Required
a. Determine the amount of ending inventory using
the lower-of-cost-or-market rule applied to each individual
inventory item.
b. Provide the adjustment necessary to write down
the inventory based on Requirement a. Assume that Randy’s
Parts Co. uses the perpetual inventory system.
c. Determine the amount of ending inventory,
assuming that the lower-of-cost-or-market rule is applied to the
total inventory in aggregate.
d. Provide the adjustment necessary to write
down the inventory based on Requirement c. Assume that
Randy’s Parts Co. uses the perpetual inventory system.
In: Accounting
The annual wages of American farm laborers in 1926 were normally distributed with a mean of $586 and a standard deviation of $97. In 1926, a) What percentage of American farm laborers had an annual wage between $500 and $700? b) What percentage of American farm laborers had an annual wage above $400? c) Find the 75 th Percentile of the farm laborers’ annual wage
please be specific
In: Statistics and Probability
Assume Anderson’s General Store bought, on credit, a truckload of merchandise from American Wholesaling costing $37,000. If the company was charged $790 in transportation cost by National Trucking, immediately returned goods to American Wholesaling costing $2,600, and then took advantage of American Wholesaling’s 2/10, n/30 purchase discount.
Prepare journal entries to record the inventory transactions, assuming Anderson’s uses a perpetual inventory system
In: Accounting
Considering the effect that the pandemic may have on some businesses and larger companies, would your decision to lend to American Airlines change when considering the current situation?
American Airlines' biggest liability in their operating income is its contributions to pension plans. It contributed (in millions) $286, $475, and $1,230 in 2017, 2018, and 2019 respectively. Even with these large sums contributed, American Airlines has stayed in the green in net cash earned from operating activities; earning inflows of cash of (in millions) $4,744, $3,533, $3,815 in 2017, 2018 and 2019 respectively.
American has not been as successful in its financing and investing activities. American has financed a lot of aircraft with long term debt. In 2018 they had a capital expenditure and aircraft purchase of $3,745 and $2,354 in the issuance of long-term debt. In 2019 they had capital expenditures and aircraft purchase of $4,268 and $3,960 in the issuance of long-term debt. American Airlines has seen outflows from financing activities of (in millions) $1,145, $1,672, $1,568 in 2017, 2018, and 2019 respectively. It also saw outflows from Investing activities of $3,636, $1,973, and $2,243.
In: Accounting
Pentacarbonyliron (Fe(CO)5) reacts with phosphorous trifluoride
(PF3) and hydrogen, releasing carbon
monoxide:
Fe(CO)5 + PF3 + H2 → Fe(CO)2(PF3)2(H)2 + CO (not balanced)
The reaction of 9.0 mol of Fe(CO)5, 11.0 mol of PF3 and 3.0 mol of H2 will release ________ mol of CO.
In: Chemistry
Question 1:
Prepare the journal entry to record this transaction on the books of Maged Co. and prepare Accounts receivable account (T account).
|
Date |
Dr |
Cr |
|
Dr Accounts receivable Cr
In: Accounting
Question 4.
|
Compound |
u(CO) cm-1 |
|
[V(CO)6]- |
1860 |
|
Cr(CO)6 |
2000 |
|
[Mn(CO)6]+ |
2095 |
|
CO (uncoordinated) |
2143 |
In: Chemistry
) The following selected transactions were completed during July between All Ways Trading Co
and Supervalu Co
July 2. All Ways company sold merchandise on account to Supervalu Company, $16,000, terms FOB
shipping point, 2/10, n/30 and paid freight of $375, which was added to the invoice.
The cost of goods sold was $11,000.
12. Supervalu Co paid All Ways Co for purchase of July 2 invoice, less discount.
24. All Ways Co sold merchandise on account to Supervalu Co, $13,200. Terms FOB shipping point,
n/eom. The cost of goods sold was $ 10,000.
26. Supervalu Co paid freight of $ 190 on July 24 purchase from All Ways Co.
30. Supervalu Co paid All Ways Co on account for July 24 purchase.
Journalize transaction for the month of July for (1) All Ways Co, and (2) Supervalu Co, assuming both the
companies use perpetual inventory system.
In: Accounting
Q1. Suppose you have the following:
Treatment = 3
Observations per each treatment = 10
Total SS = 350
SST = 250
(1) Complete the ANOVA table:
|
S.O.V |
d.f |
SS |
MS |
Cal. F |
|
Treatments |
250 |
|||
|
Error |
||||
|
Total |
350 |
(2) If tabulated (critical) F = 3.35, is there any significant difference based on calculated F?
-Show work please!-
In: Statistics and Probability
Many firm choose to enter the market early to get a number of advantages including the opportunity to do monopoly of the business. What are some benefits of entering market early? There are opportunities to enter the market late. Why a firm may choose to enter into a market late?q
In: Economics