Intermediate Accounting E8-12
1. Merchandise of $61,000 which is held by Garza on connsignment. The consignor is the Bontemps Company.
Based on the above information, calculate the amount that should appear on Garza's balance sheet at December 31, 2012, for inventory.
This the question from E8-12, Which has 4 more questions do I have to type each one individually or can you look at the book. Please explain step by step..
Homework Answers
only $441000 if immediate balance sheet is prepared
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Question 12 In your audit of Kevin Hall Company, you find that a physical inventory on...
Question 12 In your audit of Kevin Hall Company, you find that a physical inventory on December 31, 2020, showed merchandise with a cost of $400,580 was on hand at that date. You also discover the following items were all excluded from the $400,580. 1. Merchandise of $58,240 which is held by Hall on consignment. The consignor is the Max Suzuki Company. 2. Merchandise costing $40,130 which was shipped by Hall f.o.b. destination to a customer on December 31, 2020....
In your audit of Anthony Walker Company, you find that a physical inventory on December 31,...
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Exercise 8-02 In your audit of Matthew Young Company, you find that a physical inventory on...
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In your audit of John Johnson Company, you find that a physical inventory on December 31, 2020, showed merchandise with a cost of $400,350 was on hand at that date.
In your audit of John Johnson Company, you find that a physical inventory on December 31, 2020, showed merchandise with a cost of $400,350 was on hand at that date. You also discover the following items were all excluded from the $400,350. 1. Merchandise of $63,540 which is held by Johnson on consignment. The consignor is the Max Suzuki Company. 2. Merchandise costing $39,530 which was shipped by Johnson f.o.b. destination to a customer on December 31, 2020. The customer was expected...
In your audit of Tony Company, you find that a physical inventory on December 31, 2017,...
In your audit of Tony Company, you find that a physical
inventory on December 31, 2017, showed merchandise with a cost of
$455,940 was on hand at that date. You also discover the following
items were all excluded from the $455,940.
1.
Merchandise of $65,070 which is held by Tony on consignment.
The consignor is the Max Suzuki Company.
2.
Merchandise costing $34,770 which was shipped by Tony f.o.b.
destination to a customer on December 31, 2017. The customer was...
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Windsor Company took a physical inventory on December 31 and
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in the physical count were $26,130 of goods purchased from Pelzer
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purchase and the Alvarez sale were in transit at year-end. What
amount should Windsor report as its December 31
inventory?
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Exercise 8-2
In your audit of...
Question 12 In your audit of Kevin Hall Company, you find that a physical inventory on December 31, 2020, showed merchandise with a cost of $400,580 was on hand at that date. You also discover the following items were all excluded from the $400,580. 1. Merchandise of $58,240 which is held by Hall on consignment. The consignor is the Max Suzuki Company. 2. Merchandise costing $40,130 which was shipped by Hall f.o.b. destination to a customer on December 31, 2020....
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Exercise 8-02 In your audit of Matthew Young Company, you find that a physical inventory on December 31, 2020, showed merchandise with a cost of $426,690 was on hand at that date. You also discover the following items were all excluded from the $426,690. 1. Merchandise of $60,810 which is held by Young on consignment. The consignor is the Max Suzuki Company. 2. Merchandise costing $38,100 which was shipped by Young f.o.b. destination to a customer on December 31, 2020....
In your audit of Robert Williams Company, you find that a physical inventory on December 31, 2020, showed merchandise with a cost of $464,070 was on hand at that date. You also discover the following items were all excluded from the $464,070. 1. Merchandise of $64,310 which is held by Williams on consignment. The consignor is the Max Suzuki Company. 2. Merchandise costing $37,350 which was shipped by Williams f.o.b. destination to a customer on December 31, 2020. The customer...
In your audit of Tony Company, you find that a physical
inventory on December 31, 2017, showed merchandise with a cost of
$455,940 was on hand at that date. You also discover the following
items were all excluded from the $455,940.
1.
Merchandise of $65,070 which is held by Tony on consignment.
The consignor is the Max Suzuki Company.
2.
Merchandise costing $34,770 which was shipped by Tony f.o.b.
destination to a customer on December 31, 2017. The customer was...
In your audit of Jason Allen Company, you find that a physical inventory on December 31, 2020, showed merchandise with a cost of $397,710 was on hand at that date. You also discover the following items were all excluded from the $397,710. 1. Merchandise of $63,390 which is held by Allen on consignment. The consignor is the Max Suzuki Company. 2. Merchandise costing $41,060 which was shipped by Allen f.o.b. destination to a customer on December 31, 2020. The customer...
In your audit of Charles Wilson Company, you find that a physical inventory on December 31, 2020, showed merchandise with a cost of $422,220 was on hand at that date. You also discover the following items were all excluded from the $422,220. 1. 2. 3. Merchandise of $56,330 which is held by Wilson on consignment. The consignor is the Max Suzuki Company. Merchandise costing $40,510 which was shipped by Wilson f.o.b. destination to a customer on December 31, 2020. The...
Windsor Company took a physical inventory on December 31 and
determined that goods costing $189,800 were on hand. Not included
in the physical count were $26,130 of goods purchased from Pelzer
Corporation, f.o.b. shipping point, and $23,420 of goods sold to
Alvarez Company for $30,660, f.o.b. destination. Both the Pelzer
purchase and the Alvarez sale were in transit at year-end. What
amount should Windsor report as its December 31
inventory?
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$
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