Sheffield Corp. records purchases at net amounts. On May 5 Sheffield purchased merchandise on account, $81000, terms 2/10, n/30. Sheffield returned $6800 of the May 5 purchase and received credit on account. At May 31 the balance had not been paid. By how much should the account payable be adjusted on May 31?
Marigold Corp. had 480 units of "Tank" in its inventory at a cost of $4 each. It purchased, for $2800, 300 more units of "Tank". Marigold then sold 390 units at a selling price of $11 each, resulting in a gross profit of $1930. The cost flow assumption used by Marigold
Waterway uses the periodic inventory system. For the current month, the beginning inventory consisted of 7200 units that cost $11.00 each. During the month, the company made two purchases: 3000 units at $12.00 each and 11800 units at $12.50 each. Waterway also sold 12900 units during the month. Using the average cost method, what is the amount of cost of goods sold for the month? (Round average cost per unit to 2 decimal places, e. g. 1.48.)
Marigold Corp. uses dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows:
Year ended December 31 Inventory at End-of-year Prices Price Index
2019 $ 654000 1.00
2020 1261000 1.05
2021 1351250 1.10
What is the 2021 inventory balance using dollar-value LIFO?

Cool beans is a locally owned coffee shop that competes with two large coffee chains, planeteuro and frothies. alicia, the owner, hired two students to count the number of customers that entered each of the coffee shops to estimate what percent of people who are interested in coffee are visiting each shop. after a week, the students found the following results: 589 visited cool beans, 839 visited planeteuro, and 1,290 visited frothies. the students were surprised that cool beans had 139 visits on monday which represented 59% of all people who visited one of the three coffee shops on mondays. how many people visited one of the three coffee shops during the week?

What is an example of a good stock to buy during economic expansion? a) cyclical stock b) defensive stock c) income stock d) bond

The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u.s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.