Tarea 3.1 Contabilizacion de inventario
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Tarea 3.1 Contabilizacion de inventario
Administración de Empresas, NUC University O 1050-3162ONL – Introducción a la Contabilidad II
Profesora Naomi Méndez Centeno, MAcc
19 de mayo de 2023
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Perpetual Method - FIFO
Date
Units
Layer 1
1-May
10
10
6-May
-6
-6
8-May
14
13-May
-4
-4
30-May
-7
0
Cost
$91
Ending Inventory
7
$0
COGS
Units
Beginning Balance
10
add:
Purchases
14
Total:
24
less":
Ending Inventory
7
COGS
17
Goods available for sale
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Layer 2
14
-7
7
$95
Ending Inventory
$665
$665
$ Dollars
$910
$1,330 ((14*95))
$2,240
$665
$1,575
Perpetual Method - LIFO
Date
Units
1-May
12
6-May
-6
8-May
11
13-May
-4
30-May
-2
Cost
Ending Inventory
11
COGS
Beginning Balance
add:
Purchases
Total:
Goods available for sale
less":
Ending Inventory
COGS
Layer 1
Layer 2
12
-6
11
-4
-2
6
5
$125
$110 Ending Inventory
$750
$550
$1,300
Units
$ Dollars
12
$1,500
11
$1,210
23
$2,710
11
1,300.00
12
$1,410
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Weighted Average - Perpetual
Transactions
Date
Units
Cost
Total
1-May
8
$82
$656
6-May
-3
$82
-$246.00
8-May
20
$83
$1,660
13-May
-4
$82.80
-$331.20
30-May
-6
$83
-$496.80
Ending Inventory
15
COGS
Units
$ Dollars
Beginning Balance
8
$656
add:
Purchases
20
$1,660
Total:
28
$2,316
less":
Ending Inventory
15
$1,242
COGS
13
$1,074
Goods available for sale
Running Balance
Units
Total Cost
Cost
8
$656
$82.00
5
$410
$82.00
25
$2,070
$82.80
21
$1,739
$82.80
15
$1,242
$82.80
Referencias Méndez Centeno, N. (17 de mayo d
de NUC University, Puerto Rico. Recuperado de: Naomi Mé
Warren, C. S., Jonick, C., & Schneider, J. (2020). Accountin
https://bookshelf.vitalsource.com/books/9781337913256
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de 2023). Introducción a la Contabilidad II. Conferencia 3 éndez Centeno (blindsidenetworks.com). ng (28th ed.). Cengage Learning US.
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Required information
[The following information applies to the questions displayed below.]
The accounting records of Nettle Distribution show the following assets and liabilities as of December 31 for Year 1 and
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December 31
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Accounts receivable
Office supplies
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Year 1
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65
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22,424
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- Sheffield Corp. uses the percentage-of-receivables basis to record bad debt expense and concludes that 3% of accounts receivable will become uncollectible. Accounts receivable are $430,800 at the end of the year, and the allowance for doubtful accounts has a credit balance of $2,864. (a) Prepare the adjusting journal entry to record bad debt expense for the year. (b) If the allowance for doubtful accounts had a debit balance of $887 instead of a credit balance of $2,864, prepare the adjusting journal entry for bad debt expense.arrow_forwardClass Specificatio WileyPLUS X myStanState Port Bb Ch 16 WP - 2019 + L- https://edugen.wileyplus.com/edugen/student/mainfr.uni Kieso, intermeaiate ACCounting, 16e INTERMED. ACCOUNTING (ACC 31I0/- Assignment Gradebook ORION Downloadable eTextbook nt CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Exercise 16-23 Your answer is partially correct. Try again. On June 1, 2015, Sage Company and Pronghorn Company merged to form Stellar Inc. A total of 876,000 shares were issued to complete the merger. The new corporation reports on a calendar-year basis. On April 1, 2017, the company issued an additional 637,000 shares of stock for cash. All 1,513,000 shares were outstanding on December 31, 2017. Stellar Inc. also issued $600,000 of 20-year, 8% convertible bonds at par on July 1, 2017. Each $1,000 bond converts to 44 shares of common at any interest date. None of the bonds have been converted to date. Stellar Inc. is preparing its annual report for the fiscal year ending December 31, 2017. The…arrow_forwardEdit View History Bookmarks People Tab Window Help N Academic Tools :: Northern Virgi X 63% Mon 12:07 PM weCS Virginia Community College Syst X N CHAPTER 08 HW NOVA learn.vccs.edu/courses/240149/assignments/4704240?module_item_id=17254910 https://checkout.wileyplus.com/ X des View Policies rse Evaluations Current Attempt in Progress A Policies Cullumber Co. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to accrue interest except at December 31. r.com: 24/7 On- Tutoring Nov. 1 Loaned $53,400 cash to C. Bohr on a 12-month, 9% note. ary Resources Dec. 11 Sold goods to K. R. Pine, Inc., receiving a $5,400, 90-day, 8% note. 16 Received a $9,600, 180-day, 8% note to settle an open account from A. Murdock. 31 Accrued interest revenue on all notes receivable. Journalize the transactions for Cullumber Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered.…arrow_forward
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- Google Calendar - Tuesday, April X M ACC-650 TOPIC 5 Assignment X WP Question 9 of 11 - ACC-650 TOP X ui/v2/assessment-player/index.html?launchld=78f9d393-a0ac-40c8-aeb3-468fb86f3881#/question/8 : BILL'S APPTS ELSA'S APPTS AMBER'S APPT'S : LENTON'S APPT'S : CHUCK'S APPT'S : GABBY'S APPT'S MAKE PAYMENTS ShareFile Question 9 of 11 × Your answer is incorrect. 3.75/9 : Return to the original data. Monk Builders has just signed a contract with the state government to replace the windows in low- income housing units throughout the state. Monk needs 80,000 windows to complete the job and has offered to buy them from Wilson at a price of $120.00 per window. Monk will pick up the windows at Wilson's plant, so Wilson will not incur the $2 per window shipping charge. In addition, Wilson will not need to pay a distributor's commission, since the windows will not be sold through a distributor. Calculate the contribution from special order, contribution lost from regular sales and the net…arrow_forwardb My Questions bartleby + References X Camden County College Chapter 3 Quiz College Ha http://camdenccinstructure.com/courses/3788/assignments/359677module item_id-88693 -04:00) Question 8 --/1 View Policies nents Current Attempt in Progress A process began the month with 3400 units in the beginning work in process inventory and ended the month with 1900 units in the ending work in process. If 23300 units were completed and transferred out of the process during the month, how many units were started into production during the month? es ions O 21800. al O 24800. O 21400. O 23300. eTextbook and Media Attempts: 0 of 1 used Save for Later Submit Answer < Prev Next arch 10:50 AM AR 4 10/4/2019 hp f4 f5 f6 IOI f8 f f12 ins prt sc delete home end & + 6 7 O num backspace lock } T Y 00 96arrow_forwardQuestion 7 of 13 - Module One + education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=0db9e60e-b27b-40f9-b0bf-0c88ee4c36ba#/question/6 Module One Problem Set Question 7 of 13 -/4 == Your first internship assignment is to prepare two schedules for Windsor Blue Co., a manufacturing company. You have a file that contains a copy of last year's work for both schedules; you plan to follow the same format as last year, hoping the staff accountant had it right. You also have access to the full set of financials for Windsor Blue, and you can dig further into any of the accounts via the accounting system, too. Here's the information you have pulled, with the same items as last year. DM Inventory WIP Inventory FG Inventory DM purchases DL costs Production supervisor salary Utility costs in production space Depreciation on manufacturing facility and equipment Beginning of Year End of year $9,200 $10,000 21,000 13,000 6,300 8,000 153,000 232,000 56,000 14,000 42,000 វា វាarrow_forward
- At what amount would the purchase on February 1 be recorded for the net price if the net method were used?arrow_forward8-2 Project One W X Question 1 of 1-3 x COVER | Advanced X D21 Module Three Shox Codification X ACC 405 Module x Acc 405 module 3 X apa citation forma y.com/was/ui/v2/assessment-player/index.html?launchid=a98079fe-6762-4645-8bf3-48d8fac46f6f#/question/0 Nach Question 1 of 1 View Policies 11 E! Current Attempt in Progress On January 1, 2024. Metlock Company purchased 7.400 shares of Bonita Company's common stock for $132,000. Immediately after the stock acquisition, the statements of financial position of Metlock and Bonita appeared as follows: Assets Metlock Bonita Cash $42.000 $17.400 Accounts receivable 52.380 32.550 Inventory 38.080 25.190 Investment in Bonita Company 132.000 Plant assets 154.140 105.930 Accumulated depreciation plant assets (47.800) (18.700) $370,800 $162.370 Total Liabilities and Owners' Equity Current liabilities $19,220 $24.570 37.450 Mortgage notes payable Common stock, $10 par value 125.730 92.500 143,170 16.060 Other contributed capital 45.230 29.240 Retained…arrow_forwardt: Modi X * CengageNOWv2 | On x * Cengage Learning m/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=. CD B Milestone Two Guideli x G module 5 problem set x A eBook Show Me How Impaired Goodwill and Amortization of Patent On April 1, a patent with an estimated useful economic life of 12 years was acquired for $43,200. In addition, on December 31, it was estimated that goodwill of $41,000 was impaired. a. Record the acquisition of patent. If an amount box does not require an entry, leave it blank. April 1 b. Journalize the adjusting entry on December 31 for the amortization of the patent rights. Do not round intermediate calculations. If an amount box does not require an entry, leave it blank. Dec. 31 C. Journalize the adjusting entry on December 31 for the impaired goodwill. If an amount box does not require an entry, leave it blank. Dec. 31 Next Previous 3:24 PM Check My Work 11/28/2021 56°F Mostly cloudy a O E - A 0 home delete prt sc %23arrow_forward
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