Crane Company's record of transactions for the month of April was as follows Purchase Sales April 1 balance on hand) 300 $5.10 April 3 250 $10.00 4 750@ 5.20 , 700 10.00 ཨ ཀྐ རྒྱུ མ 400 5.50 11 300 11.00 13 600 5.60 23 600 Q 11.00 21 350 5.70 27 450 12.00 29 250 5.90 2,300 2,650 [31] Your arewer is correct Assuming that periodic inventory records are kept in units only calculate the average-cast per unit Round orewer to 2 decimal places, e.g. 2.76.) Average-cast per unit $ [32] eTextbook and Media Your arewer is incorrect. 546 per unit Attempts: 4 of 5 used Assuming that periodic inventory records are kept in units only compute the inventory at April 30 using LIFO and average-cast Round orewer to decimal places, e.g. 2,760.) LIFO $ Average-cast $

Crane Company's record of transactions for the month of April was as follows Purchase Sales April 1 balance on hand) 300 $5.10 April 3 250 $10.00 4 750@ 5.20 , 700 10.00 ཨ ཀྐ རྒྱུ མ 400 5.50 11 300 11.00 13 600 5.60 23 600 Q 11.00 21 350 5.70 27 450 12.00 29 250 5.90 2,300 2,650 [31] Your arewer is correct Assuming that periodic inventory records are kept in units only calculate the average-cast per unit Round orewer to 2 decimal places, e.g. 2.76.) Average-cast per unit $ [32] eTextbook and Media Your arewer is incorrect. 546 per unit Attempts: 4 of 5 used Assuming that periodic inventory records are kept in units only compute the inventory at April 30 using LIFO and average-cast Round orewer to decimal places, e.g. 2,760.) LIFO $ Average-cast $

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

See similar textbooks

Similar questions

rr
9. 測 3. ABC Co. had the following purchases on account: September August 65% of the month's purchases are paid in the month of purchase. The remainder is paid in the month following purchase, How much will the cash payments for purchases be in August? July 000'008$ 43°F SU prt sc 144 114 fg *- V. 0. 5. 6.
2.16) Find the average daily balance (new purchases included) Dates Payment End of Day Balance 4/1-4/5 4/6 4/7-4/22 4/23 4/24-4/30 Average $380.00 Purchase $110.00 Po X $300.00 x $410.00 x $410.00 X $30.00 X $30.00 x Total Number of Days v 5 1 16 1 7 30 Sum of Balances $1,500.00 $410.00 $6,560.00 $30.00 $210.00
am. 112.
What is the solution to the question I uploaded
1. The following account balances were extracted from the accounting records of Macy Corporation at the end of the year:Accounts Receivable $1,100,000Allowance for Uncollectible Accounts (Credit) $37,000Uncollectible-Account Expense $63,000What is the net realizable value of the accounts receivable? Select one:A. $1,163,000B. $1,137,000C. $1,100,000D. $1,063,000 Please show all steps.
The comparative balance sheet of Merrick Equipment Co. for Dec. 31, 20Y9 and 20Y8, is:Dec. 31, 20Y9 Dec. 31, 20Y8AssetsCash $70,720 $47,940Accounts receivable (net) 207,230 188,190Inventories 298,520 289,850Investments 0 102,000Land 295,800 0Equipment 438,600 358,020Accumulated depreciation—equipment (99,110) (84,320)Total assets $1,211,760 $901,680Liabilities and Stockholders' EquityAccounts payable (merchandise creditors) $205,700 $194,140Accrued expenses payable (operating expenses) 30,600 26,860Dividends payable 25,500 20,400Common stock, $1 par 202,000 102,000Paid-in capital: Excess of issue price over par—common stock 354,000 204,000Retained earnings 393,960 354,280Total liabilities and stockholders' equity $1,211,760 $901,680The income statement for the year ended December 31, 20Y9, is as follows:Sales $2,023,898Cost of goods sold 1,245,476Gross profit $778,422Operating expenses:Depreciation expense $14,790Other operating expenses 517,299Total operating expenses 532,089Operating…
The accounting records of Nettle Distribution show the following assets and liabilities as of December 31,2018 and 2019.December 31 2018 2019Cash . . . . . . . . . . . . . . . . . . . . . . . . $ 64,300 $ 15,640Accounts receivable . . . . . . . . . . . 26,240 19,100Office supplies . . . . . . . . . . . . . . . . 3,160 1,960Office equipment . . . . . . . . . . . . . . 44,000 44,000Trucks . . . . . . . . . . . . . . . . . . . . . . . 148,000 157,000December 31 2018 2019Building . . . . . . . . . . . . . . . . . . . . . $ 0 $80,000Land . . . . . . . . . . . . . . . . . . . . . . . . 0 60,000Accounts payable . . . . . . . . . . . . . 3,500 33,500Note payable . . . . . . . . . . . . . . . . . 0 40,000Required1. Prepare balance sheets for the business as of December 31, 2018 and 2019. Hint: Report only total equityon the balance sheet and remember that total equity equals the difference between assets and liabilities.2. Compute net income for 2019 by comparing total equity amounts for these…
A credit sale of $3800 is made on April 25, terms 1/10, n/30, on which a return of $300 is granted on April 28. What amount is received as payment in full on May 4? $3465 • $3800 • $3500 Ⓒ $3762
16. Goods totaling P50,000 were purchased February 2 with terms 2/10, n/30. Returns of p10,000 were made on February 10. What discounts, if any, can be availed of if the invoice was paid on February 12? a. P200 b. P800 c. P1,000 d. None
A arch Presented below is a list of possible transactions. Analyze the effect of the 18 transactions on the financial statement categories indicated. 1. R F 2. 3. V Transactions Purchased inventory for $80,000 on account (assume perpetual system is used). Issued an $80,000 note payable in payment on account (see item 1 above). Recorded accrued interest on the note from item 2 above. ACC341-2022-Ho...xlsx % 5 T G B Ot n 21 6 Y music 2 jpeg H & 7 Assets 8 6 O N M K O F10 ( 9 Liabilities F11 ) O L Z 888 F12 P : Owners' Equity Home C ? V End - Net Income ] Rain off and on Insert A Delete Backsp Det in
On Januory 1, 2021, the general ledger of Big Blast Fireworks includes the following account balances: Accounts Cash Debit Credit $ 23,300 Accounts Receivable Allowance far Uncollectible Accounts 48,e0e $ 4, s8e Inventory Land Accounts Payable Notes Payable (6x, due in 3 ycars) 37,e00 72,100 28,980 37,eee 63,0ee 39,0ee Comnon Stock Retained Earnings Totals $172,488 $172,480 The $37,000 beginning balance of inventory consists of 370 units, eoch costing $100. During January 2021, Big Blast Fireworks had the following inventory transections: January 3 Purchase 1,68e units for $168, 800 on account ($105 each). January 8 Purchase 1,78e units for S187,800 on account ($110 cach). January 12 Purchase 1,80e units for $207,000 on account ($115 cach). January 15 Return 135 of the units purchased on January 12 because of defects. January 19 Sell 5,200 units on account for $788,8ee. The cost of the units sold is deternined using a FIFD perpetual inventory systen. January 22 Receive $753, eee from…