Business, 26.08.2021 02:30 frank2010

Keillor Company’s inventory of 1,100,000 at December 31, 2014, was based on a physical count of goods priced at cost before any year-end adjustments relating to the following items. (a)goods shipped from a vendor f. o.b. shipping point on December 31 ,2014, at an invoice cost of $69,000 to Keillor company were received on January 4, 2015.
(b) The physical count included $29,000 of goods billed to Sakic Corp. f. o.b. shipping point on December 31, 2014. The carrier picked up these goods on January 3, 2015.
What amount should Keillor report as inventory on its balance sheet?

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 20:00

Your assessment tool contains rich data about child progress in language and literacy but no details to explain the differences between children. you decide to: a. replace the tool with another b. analyze the data using factors such as language, ability, and participation rates c. review your anecdotal notations regarding language and literacy development d. talk with families about what they are seeing at home

Answers: 2

Answer

Business, 21.06.2019 20:40

Which of the following explains why the government sets a required reserve ratio for private banks? a. to allow the government to control the interest rate charged on loans. b. to prevent banks from printing too much money and causing inflation. c. to make sure banks don't run out of money when customers make withdrawals. d. to enable the regulation of risk levels in the decision process of offering loans. 2b2t

Answers: 1

Answer

Business, 22.06.2019 00:30

Adds up the money earned by producers plus taxes paid to the goverment. a) income approach b) product approach c) expenditure approach

Answers: 3

Answer

Business, 22.06.2019 06:30

Selected data for stick’s design are given as of december 31, year 1 and year 2 (rounded to the nearest hundredth). year 2 year 1 net credit sales $25,000 $30,000 cost of goods sold 16,000 18,000 net income 2,000 2,800 cash 5,000 900 accounts receivable 3,000 2,000 inventory 2,000 3,600 current liabilities 6,000 5,000 compute the following: 1. current ratio for year 2 2. acid-test ratio for year 2 3. accounts receivable turnover for year 2 4. average collection period for year 2 5. inventory turnover for year 2

Answers: 2

Answer

You know the right answer?

Keillor Company’s inventory of 1,100,000 at December 31, 2014, was based on a physical count of good...

Questions