Business, 08.10.2019 05:00 lilcupe738
Ralph’s mini-mart store in alpine experienced the following events during the current year: 1. incurred $409,000 in selling costs. 2. incurred $1,207,000 of administrative costs. 3. purchased $382,000 of merchandise. 4. paid $26,000 for transportation-in costs. 5. took an inventory at year-end and learned that goods costing $202,000 were on hand. this compared with a beginning inventory of $316,000 on january 1. 6. determined that sales revenue during the year was $3,105,000. 7. debited all costs incurred to the appropriate account and credited to accounts payable. all sales were for cash. required: give the amounts for the following items in the merchandise inventory account:
Answers: 3
Business, 22.06.2019 01:00
Paar corporation bought 100 percent of kimmel, inc., on january 1, 2012. on that date, paar’s equipment (10-year life) has a book value of $420,000 but a fair value of $520,000. kimmel has equipment (10-year life) with a book value of $272,000 but a fair value of $400,000. paar uses the equity method to record its investment in kimmel. on december 31, 2014, paar has equipment with a book value of $294,000 but a fair value of $445,200. kimmel has equipment with a book value of $190,400 but a fair value of $357,000. the consolidated balance for the equipment account as of december 31, 2014 is $574,000. what would be the impact on consolidated balance for the equipment account as of december 31, 2014 if the parent had applied the initial value method rather than the equity method? the balance in the consolidated equipment account cannot be determined for the initial value method using the information given. the consolidated equipment account would have a higher reported balance. the consolidated equipment account would have a lower reported balance. no effect: the method the parent uses is for internal reporting purposes only and has no impact on consolidated totals.
Answers: 2
Business, 22.06.2019 08:30
What has caroline's payment history been like? support your answer with two examples
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Business, 22.06.2019 16:30
Why are there so many types of diversion programs for juveniles
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Ralph’s mini-mart store in alpine experienced the following events during the current year: 1. incu...
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