A company took a physical inventory at the end of the year and determined that $833,000 of goods were on hand. In addition, the following items were not included in the physical count: Management determined that $96,000 of goods purchased were in transit that were shipped f. o.b. destination (goods were actually received by the company three days after the inventory count)
The company sold $40,000 worth of inventory f. o.b. destination.
What amount should Bell report as inventory at the end of the year?

Which of the following statements is correct? stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. potential conflicts between stockholders and bondholders are increased if a firm's bonds are convertible into its common stock. takeovers are most likely to be attempted if the target firm’s stock price is above its intrinsic value. one advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.