Homework Answers
| Inventory Item | Cost of Item | Market Value | Lower of Cost or Market Value |
| A | $4,700 | $5,350 | $4,700 |
| B | $7,000 | $6,100 | $6,100 |
| C | $6,600 | $6,600 | $6,600 |
| D | $4,100 | $4,600 | $4,100 |
| E | $8,100 | $9,300 | $8,100 |
| F | $9,350 | $8,850 | $8,850 |
| Total | $38,450 | ||
| So if each item is shown separatelty then the amount of Inventory in Balance Sheet is $38,450 | |||
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You are reviewing the records for you business and the accounting department has given you the...
You are reviewing the records for you business and the accounting department has given you the...
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item Market Value $4,650 $5,500 7. 200 6 6,450 .1990 6.100 6.100 D 4.350 5,000 8,100 9,300 9,250 8,600 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: .... B ..... Inventory
You are reviewing the records for you business and the accounting department has given you the...
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item 1 M arket Value $4,300 $5,350 7,400 6,100 с | 6,800 6,800 D 4.450 4,950 8,250 8,900 9,500 8,900 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: A B I c I o I 3 Inventory = 10
Check my work points You are reviewing the records for you business and the accounting department...
Check my work points You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item Market Value $4,100 $5,350 B 7150 6.100 6.500 6.500 4,300 4,700 8,600 9,200 F 9,450 8,500 eBook When the financial statements are prepared and assuring the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: Print A B C D References 3 Inventory
You are reviewing the records for you business and the accounting department has given you the...
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item Market Value A $4,850 $5,350 B 7,200 6,500 С 6,900 6,900 D 4,350 4,650 E 8,400 9,000 F 9,450 9,200 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: A B С D E 1 2 Inventory = 3...
You are reviewing the records for you business and the accounting department has given you the...
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of item Market Value $4,650 $5,500 B 7200 6.550 C 6,100 6.100 D 4 ,100 5,000 8,050 9,400 F 1 9 .400 9,050 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: 3 Inventory
You are reviewing the records for you business and the accounting department has given you the...
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item Market Value A $4,300 $5,450 B 7,200 6,550 С 6,500 6,500 4,150 4,850 E 8,300 9,400 F 9,250 9,200 D When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: A B с D E 1 2 3 Inventory 4...
Check my work mode : This shows what is correct or incorrect for the work you...
Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate com You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of item Market Value А $4,250 $5,350 B 7,250 6,000 С 6,900 6,900 D 4,350 4,750 E 8,500 9,000 F 9,350 8,700 When the financial statements are prepared and assuming the accounting department...
The following cost and inventory data are taken from the accounting records of Mason Company for...
The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed: $ 71,000 121,000 Costs incurred: Direct labour cost Purchases of raw materials Indirect labour Maintenance, factory equipment Advertising expense Insurance, factory equipment Sales salaries Rent, factory facilities Supplies Depreciation, office equipment Depreciation, factory equipment 30,500 6,100 91,000 910 51,000 24,500 4,700 3,600 21,500 Beginning of End of the Year the Year Inventories: Raw materials Work in process Finished goods $...
Puntarelli Contracting keeps its accounting records on a cash basis during the year. At year-end, it...
Puntarelli Contracting keeps its accounting records on a cash basis during the year. At year-end, it adjusts its books to the accrual basis for preparing its financial statements. At the end of 2015, Puntarelli reported the following balance sheet items: Debit Credit Cash $ 2,700 Accounts receivable 4,200 Inventory 5,600 Equipment 12,000 Accumulated depreciation $ 4,800 Accounts payable 6,100 T. Puntarelli, capital 13,600 Totals $24,500 $24,500 It is now the end of 2016. The company's checkbook shows a balance of...
Saw this posted but not for version (A). The Accounting Records has many blanks for the...
Saw this posted but not for version (A).
The Accounting Records has many blanks for the template on the
Journals, T-accounts,Unadjusted/ Trial balances... and more.
The Second page has Financial Statements, and the 3rd page has
the transactions. Some answers are given to help as a guide. THIS
IS VERSION A.
Accounting 2301 Instructions and Information for the Case Requirements: 1) Using the information given below (Trial Balance as of Feb. 28), enter the beginning balances in the T- Accounts...
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item Market Value $4,650 $5,500 7. 200 6 6,450 .1990 6.100 6.100 D 4.350 5,000 8,100 9,300 9,250 8,600 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: .... B ..... Inventory
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item 1 M arket Value $4,300 $5,350 7,400 6,100 с | 6,800 6,800 D 4.450 4,950 8,250 8,900 9,500 8,900 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: A B I c I o I 3 Inventory = 10
Check my work points You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item Market Value $4,100 $5,350 B 7150 6.100 6.500 6.500 4,300 4,700 8,600 9,200 F 9,450 8,500 eBook When the financial statements are prepared and assuring the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: Print A B C D References 3 Inventory
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item Market Value A $4,850 $5,350 B 7,200 6,500 С 6,900 6,900 D 4,350 4,650 E 8,400 9,000 F 9,450 9,200 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: A B С D E 1 2 Inventory = 3...
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of item Market Value $4,650 $5,500 B 7200 6.550 C 6,100 6.100 D 4 ,100 5,000 8,050 9,400 F 1 9 .400 9,050 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: 3 Inventory
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item Market Value A $4,300 $5,450 B 7,200 6,550 С 6,500 6,500 4,150 4,850 E 8,300 9,400 F 9,250 9,200 D When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: A B с D E 1 2 3 Inventory 4...
Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate com You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of item Market Value А $4,250 $5,350 B 7,250 6,000 С 6,900 6,900 D 4,350 4,750 E 8,500 9,000 F 9,350 8,700 When the financial statements are prepared and assuming the accounting department...
The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed: $ 71,000 121,000 Costs incurred: Direct labour cost Purchases of raw materials Indirect labour Maintenance, factory equipment Advertising expense Insurance, factory equipment Sales salaries Rent, factory facilities Supplies Depreciation, office equipment Depreciation, factory equipment 30,500 6,100 91,000 910 51,000 24,500 4,700 3,600 21,500 Beginning of End of the Year the Year Inventories: Raw materials Work in process Finished goods $...
Saw this posted but not for version (A).
The Accounting Records has many blanks for the template on the
Journals, T-accounts,Unadjusted/ Trial balances... and more.
The Second page has Financial Statements, and the 3rd page has
the transactions. Some answers are given to help as a guide. THIS
IS VERSION A.
Accounting 2301 Instructions and Information for the Case Requirements: 1) Using the information given below (Trial Balance as of Feb. 28), enter the beginning balances in the T- Accounts...
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