Answer both parts Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. Majesty Antiques, Inc., began June with inventory of $47.900. The business made net purchases of $48,600 and had net sales of $76,400 before a fire destroyed thecompany's inventory. For the past several years, Majesty's gross profit percentage has been 35%.Read the requirement.Use the gross margin method to estimate the cost of inventory destroyed.Cost of goods available.Estimated cost of goods sold:Less:Estimated cost of goods soldEstimated cost of inventory destroyed Read the requirement.Use the gCost of gEstimateRequirement1. Estimate the cost of the inventory destroyed by the fire. Identify another reasonthat owners and managers use the gross profit method to estimate inventory.Less:EstimEstimated cost of inventory destroyedPrintDone- X

Gross profit is the difference between sales revenue and cost of goods sold. The cost of goods sold…

Answered: Majesty Antiques, Inc., began June with…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject : accounting
Please describe a time when you were faced with a personal dilemma regarding whether to blow the whistle on a wrongdoing. Some examples of a wrongdoing are witnessing cheating on an exam, witnessing someone trying to steal, noticing someone trying to take advantage of another, and completing a project at work without recording time spent in order to meet time constraints. Who were the stakeholders in the situation and how were they impacted by the wrongdoing? How did rationalization encourage the wrongdoer to follow through with their wrongdoing? What did you do and why?
None
On September 17, 2021, Ziltech, Inc., entered into an agreement to sell one of its divisions that qualifies as a component of the entity according to generally accepted accounting principles. By December 31, 2021, the company’s fiscal year-end, the division had not yet been sold, but was considered held for sale. The net fair value (fair value minus costs to sell) of the division’s assets at the end of the year was $13 million. The pretax income from operations of the division during 2021 was $3 million. Pretax income from continuing operations for the year totaled $16 million. The income tax rate is 25%. Ziltech reported net income for the year of $8.1 million. Determine the book value of the division's assets on December 31, 2021.
How specifically do you contribute to or impact the financial health of your organization? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Explain cost of conversion. (please give a clear explanation and avoid plagiarism. Thank you.)
Which of the following statements is false regarding the ethical obligations of professional accountants? Multiple choice question. they must seek to maximize the owners' profits. they must continually upgrade their skills in order to be competent their obligations are outlined in a code of ethics. they must treat sensitive information confidentially Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
what exactly is a cookie jar reserve? Does using a cookie jar reserve follow GAAP? Does using a cookie jar reserve appear to be an ethical practice? Support your opinion. Your post should be more than a single sentence.
Urgent Answer please 2. Explain Audit Commitee by decribing the role and responsibilities. This is full question and not an eassy question at all. Answer must be plagirism free and in reasonable length. Length should not be too short or too long. Give reasonable answer please.
es Exercise 4-8A (Static) Which of the following is true about fringe benefits? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wro answer. Any boxes left with a question mark will be automatically graded as incorrect.) ?They are only available for employees and their families. ? The amount of the fringe benefit is never subject to income tax. ?They represent additional cash paid directly to employees. ?They represent additional compensation given for services performed. ‒‒ Q Search O
It says they answers are wrong from your example.
What is the term given for information that should NOT be taken from one source as the collectors of the information may have collected this for a specific purpose? a. Accuracy b. REliability c. Completeness d. Bias

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