At december 31, 2017 sheffield corp.'s inventory records indicated a balance of $888000. upon further investigation it was determined that this amount included the following:
▪ $186000 in inventory purchases made by sheffield shipped from the seller 12/27/14 terms fob destination, but not due to be received until january 2nd
▪ $114000 in goods sold by sheffield with terms fob destination on december 27th. the goods are not expected to reach their destination until january 6th
▪ $7500 of goods received on consignment from riverbed company
what is sheffield correct ending inventory balance at december 31, 2017?

Collective bargaining provides for a representative of employees to negotiate with a representative of management over labor issues including wages.true or false?

The following balance sheet for the los gatos corporation was prepared by a recently hired accountant. in reviewing the statement you notice several errors. los gatos corporation balance sheet at december 31, 2018 assets cash $ 44,000 accounts receivable 86,000 inventories 57,000 machinery (net) 122,000 franchise (net) 32,000 total assets $ 341,000 liabilities and shareholders' equity accounts payable $ 54,000 allowance for uncollectible accounts 7,000 note payable 59,000 bonds payable 112,000 shareholders' equity 109,000 total liabilities and shareholders' equity $ 341,000 additional information: cash includes a $22,000 restricted amount to be used for repayment of the bonds payable in 2022. the cost of the machinery is $194,000. accounts receivable includes a $22,000 note receivable from a customer due in 2021. the note payable includes accrued interest of $7,000. principal and interest are both due on february 1, 2019. the company began operations in 2013. income less dividends since inception of the company totals $37,000. 52,000 shares of no par common stock were issued in 2013. 200,000 shares are authorized. required: prepare a corrected, classified balance sheet. (amounts to be deducted should be indicated by a minus sign.)

True or false: banks are required to make electronically deposited funds available on the same day of the deposit