Homework Answers
Cost of Goods available for sale:-
|
Date |
Units |
Cost/Unit |
Amount |
|
|
Sept 1 |
Beginning Inventory |
330 |
$160 |
$52800 |
|
Sept 8 |
Purchases |
435 |
$170 |
$73950 |
|
Sept 23 |
Purchases |
110 |
$190 |
$20900 |
|
Sept 25 |
Purchases |
190 |
$200 |
$38000 |
|
Cost of Goods available for sale |
1065 |
$185650 |
||
Ending Inventory:-
|
Date |
No of Units |
Cost/Unit |
Total |
|
Sept 25 |
190 |
$200 |
$38000 |
|
Sept 23 |
110 |
$190 |
$20900 |
|
Sept 8 |
275 |
$170 |
$46750 |
|
Ending Inventory |
575 |
$105650 |
|
Cost of Goods Sold = Cost of Goods available for sale – Ending Inventory
= $185650 - $105650
= $80000
Add Answer to:
Help I S 8 Purchased 435 units @ $170 per unit. 12 Sold 250 units. 17...
what did I do wrong? please explain ACC 113 Project 10 During the month of September...
what did I do wrong? please explain
ACC 113 Project 10 During the month of September 2015, Emily Company had the following information regarding the buying and selling of its inventory Sept. 1 Beginning inventory of 340 units @ $130 per unit. 8 Purchased 435 units $140 per unit. 12 Sold 260 units. 17 Sold 130 units. 23 Purchased 110 units $160 per unit. 25 Purchased 160 units $170 per unit. 30 Sold 110 units. Your answer is correct. Compute...
please I need help for my project ACC 112 Project 1B The below represents the comparative...
please I need help for my project
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 2015 Net sales (all on account) $1,178,000 $1,034,000 Expenses: Cost of goods sold $808,000 $710,000 Selling and administrative 209,000 225,000 Interest expense 12,000 14,000 Income tax expense 33,400 23,000 Total expenses $1,062,400 $972,000 Net income $115,600 $62,000 2015 $37,000 28,600 149,400 138,800 353,800 782,000...
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation...
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation Comparative Income Statement For the Years Ended December 31,2016 and 2015 2016 2015 Net sales (all on account) $1,238,000 $1,006,000 Expenses: Cost of goods sold $826,000 $706,000 Selling and administrative 208,000 218,000 Interest expense 14,000 12,000 Income tax expense 35,000 23,000 Total expenses $1,083,000 $959,000 Net income $155,000 $47,000 Kamla Corporation Comparative Balance Sheet December 31, 2016 and 2015 Assets 2016 2015 Current assets:...
Bramble Corp. began the year with 10 units of marine floats at a cost of $12...
Bramble Corp. began the year with 10 units of marine floats at a cost of $12 each. During the year, it made the following purchases: May 5, 32 unit at $16; July 16, 19 units at $20; and December 7, 24 units at $23. Assume there are 35 units on hand at the end of the period. Bramble uses the periodic approach. A. Determine cost of goods sold under FIFO B. Determine cost of goods sold under LIFO C. Calculate...
Bridgeport Corp. reports the following for the month of June. Explanation Units Unit Cost Total Cost...
Bridgeport Corp. reports the following for the month of June. Explanation Units Unit Cost Total Cost June 1 Inventory 12 Purchases 2,310 23 Purchases 1,358 30 Inventory 240 $ 580 Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (For calculation purposes, round to 3 decimal places, e.g. 5.275. Round answers to decimal places, e.g. 125.) FIFO LIFO Average-cost The cost of the ending inventory The cost of goods sold Click...
help with questions 8-9 September 1, the beginning inventory for Burkemper Company was 110 units at $100 each....
help with questions 8-9
September 1, the beginning inventory for Burkemper Company was 110 units at $100 each. Purchases and sales during September were: Purchases During Sept 2016 Sept7 120 units @ $112 Sept 17 70 units @ $ 88 Sept 25 100 units @ $ 84 Sales During Sept 2016 Sept 12 70 units Sept 22 110 units Sept 29 90 units What is the cost of ending inventory for Burkemper Company on September 30 if the periodic LIFO...
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation...
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 2015 Net sales (all on account) $1,238,000 $1,006,000 Expenses: Cost of goods sold $826,000 $706,000 Selling and administrative 208,000 218,000 Interest expense 14,000 12,000 Income tax expense 35,000 23,000 Total expenses $1,083,000 $959,000 Net income $155,000 $47,000 || 2015 Kamla Corporation Comparative Balance Sheet December 31, 2016 and 2015 Assets 2016...
Kingbird, Inc. had a beginning inventory on January 1 of 330 units of Product 4-18-15 at a cost of $22 per unit. During the year, the following purchases were made. Mar. 15 880 units at $25 Sept. 4 7...
Kingbird, Inc. had a beginning inventory on January 1 of 330 units of Product 4-18-15 at a cost of $22 per unit. During the year, the following purchases were made. Mar. 15 880 units at $25 Sept. 4 770 units at $28 July 20 550 units at $26 Dec. 2 220 units at $31 2,200 units were sold. Kingbird, Inc. uses a periodic inventory system. ▼ (a) Your answer is correct. Determine the cost of goods available for sale. The...
Return to Blackboard S Kimmel, Financial Accounting, 9e Help | System Announcements IS nment 4 BACK...
Return to Blackboard S Kimmel, Financial Accounting, 9e Help | System Announcements IS nment 4 BACK CALCULATOR NEX PRINTER VERSION Question 2 Bridgeport Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts, Below is information relating to Bridgeport Corp.'s purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Bridgeport Corp. uses a periodic inventory system. Explanation Unit Cost Total Cost Date Units $ 1,224 $102 12 Inventory Sept. 1 45 105 4,725...
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation...
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 2015 Net sales (all on account) $1,238,000 $1,006,000 Expenses: Cost of goods sold $826,000 $706,000 Selling and administrative 208,000 218,000 Interest expense 12,000 14,000 Income tax expense 35,000 23,000 Total expenses $959,000 $1,083,000 $47,000 $155,000 Net income Kamla Corporation Comparative Balance Sheet December 31, 2016 and 2015 2015 2016 Assets Current...
what did I do wrong? please explain
ACC 113 Project 10 During the month of September 2015, Emily Company had the following information regarding the buying and selling of its inventory Sept. 1 Beginning inventory of 340 units @ $130 per unit. 8 Purchased 435 units $140 per unit. 12 Sold 260 units. 17 Sold 130 units. 23 Purchased 110 units $160 per unit. 25 Purchased 160 units $170 per unit. 30 Sold 110 units. Your answer is correct. Compute...
please I need help for my project
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 2015 Net sales (all on account) $1,178,000 $1,034,000 Expenses: Cost of goods sold $808,000 $710,000 Selling and administrative 209,000 225,000 Interest expense 12,000 14,000 Income tax expense 33,400 23,000 Total expenses $1,062,400 $972,000 Net income $115,600 $62,000 2015 $37,000 28,600 149,400 138,800 353,800 782,000...
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation Comparative Income Statement For the Years Ended December 31,2016 and 2015 2016 2015 Net sales (all on account) $1,238,000 $1,006,000 Expenses: Cost of goods sold $826,000 $706,000 Selling and administrative 208,000 218,000 Interest expense 14,000 12,000 Income tax expense 35,000 23,000 Total expenses $1,083,000 $959,000 Net income $155,000 $47,000 Kamla Corporation Comparative Balance Sheet December 31, 2016 and 2015 Assets 2016 2015 Current assets:...
Bridgeport Corp. reports the following for the month of June. Explanation Units Unit Cost Total Cost June 1 Inventory 12 Purchases 2,310 23 Purchases 1,358 30 Inventory 240 $ 580 Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (For calculation purposes, round to 3 decimal places, e.g. 5.275. Round answers to decimal places, e.g. 125.) FIFO LIFO Average-cost The cost of the ending inventory The cost of goods sold Click...
help with questions 8-9
September 1, the beginning inventory for Burkemper Company was 110 units at $100 each. Purchases and sales during September were: Purchases During Sept 2016 Sept7 120 units @ $112 Sept 17 70 units @ $ 88 Sept 25 100 units @ $ 84 Sales During Sept 2016 Sept 12 70 units Sept 22 110 units Sept 29 90 units What is the cost of ending inventory for Burkemper Company on September 30 if the periodic LIFO...
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 2015 Net sales (all on account) $1,238,000 $1,006,000 Expenses: Cost of goods sold $826,000 $706,000 Selling and administrative 208,000 218,000 Interest expense 14,000 12,000 Income tax expense 35,000 23,000 Total expenses $1,083,000 $959,000 Net income $155,000 $47,000 || 2015 Kamla Corporation Comparative Balance Sheet December 31, 2016 and 2015 Assets 2016...
Kingbird, Inc. had a beginning inventory on January 1 of 330 units of Product 4-18-15 at a cost of $22 per unit. During the year, the following purchases were made. Mar. 15 880 units at $25 Sept. 4 770 units at $28 July 20 550 units at $26 Dec. 2 220 units at $31 2,200 units were sold. Kingbird, Inc. uses a periodic inventory system. ▼ (a) Your answer is correct. Determine the cost of goods available for sale. The...
Return to Blackboard S Kimmel, Financial Accounting, 9e Help | System Announcements IS nment 4 BACK CALCULATOR NEX PRINTER VERSION Question 2 Bridgeport Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts, Below is information relating to Bridgeport Corp.'s purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Bridgeport Corp. uses a periodic inventory system. Explanation Unit Cost Total Cost Date Units $ 1,224 $102 12 Inventory Sept. 1 45 105 4,725...
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 2015 Net sales (all on account) $1,238,000 $1,006,000 Expenses: Cost of goods sold $826,000 $706,000 Selling and administrative 208,000 218,000 Interest expense 12,000 14,000 Income tax expense 35,000 23,000 Total expenses $959,000 $1,083,000 $47,000 $155,000 Net income Kamla Corporation Comparative Balance Sheet December 31, 2016 and 2015 2015 2016 Assets Current...
Most questions answered within 3 hours.
-
Write a program to solve the Josephus problem, with the following
modification:
Sample Input:
./a.out n...
asked 1 hour ago -
At the start of a CD it is spinning at a rate of 525 rpm
(revolutions...
asked 1 hour ago -
4. Without doing any calculations, predict whether the observed
∆T would increase, decrease or remain the...
asked 2 hours ago -
Based on the range, which of the following sets of scores has
the greatest variability? 3,...
asked 4 hours ago -
Ripples in a pond travel at a velocity of 3 m/s with one peak
passing a...
asked 3 hours ago -
A man stands on the roof of a building of height 13.0 mm and
throws a...
asked 4 hours ago -
The extent to which assets are financed by borrowed funds and
other liabilities is indicated by:...
asked 5 hours ago -
Explain in detail
Germany is the fifth largest economy
explain what goods and services Germany specializes...
asked 5 hours ago -
The density of platinum is 21.45 g/mL. If a cube of platinum
with a mass of...
asked 5 hours ago -
Accounts Receivable
Sales
A/R Posting
Extended Sales Invoice
Packing Slip
Compare invoice to packing slip 2...
asked 5 hours ago -
Michaella, age 23, is a full-time law student and is claimed by
her parents as a...
asked 5 hours ago -
Why are polymers not typically casted into products?
asked 5 hours ago