only 6b photo thanks! 2. Under the assumption the company took a year-end physical inventory at marked selling prices that totalled $1,685,800, prepare aschedule showing the store's loss from theft or other causes at cost and at retall.EARTHLY GOODSInventory ShortageDecember 31, 2020At CostAt RetailEstimated inventory. December 31Physical inventoryInventory shortage The records of Earthly Goods provided the following Information for the year ended December 31, 2020.At CostAt Retail$ 521, 35e $ 977,1504,138, 245January 1 beginning inventory6,448, 700129, 3505,595,70049,600PurchasesPurchase returnsSales62, 800Sales returnsRequlred:1. Prepare an estimate of the company's year-end inventory by the retall method. (Round all calculations to two decimal places.)EARTHLY GOODSEstimated InventoryDecember 31, 2020At CostAt RetailGoods available for sale:Goods available for saleCost to retail ratioEstimated ending inventory at cost

we know that, cost to retail ratio = Cost of goods available for sale/goods available for sale at…

The records of Earthly Goods provided the following information for the year ended December 31, 2020. At Retail $ 521, 35e $ 977,15e 6,448,780 129,35e 5,595,780 At Cost January 1 beginning inventory Purchases 4,138,245 Purchase returns 62, 8ee Sales Sales returns 49,6ee Requlred: 1. Prepare an estimate of the company's year-end inventory by the retail method. (Round all calculations to two decimal places.) EARTHLY GOODS Estimated Inventory December 31, 2020 At Cost At Retail Goods available for sale: Goods available for sale Cost to retail ratio 96 Estimated ending inventory at cost

The records of Earthly Goods provided the following information for the year ended December 31, 2020. At Retail $ 521, 35e $ 977,15e 6,448,780 129,35e 5,595,780 At Cost January 1 beginning inventory Purchases 4,138,245 Purchase returns 62, 8ee Sales Sales returns 49,6ee Requlred: 1. Prepare an estimate of the company's year-end inventory by the retail method. (Round all calculations to two decimal places.) EARTHLY GOODS Estimated Inventory December 31, 2020 At Cost At Retail Goods available for sale: Goods available for sale Cost to retail ratio 96 Estimated ending inventory at cost

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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Mutiple Choice O $72.00 O $500 O $400
1th ed X V VitalSource: Thank You for Your X VitalSource Bookshelf: Intermedi. X Exercises elf.vitalsource.com/reader/books/9781264387403/epubcfi/6/32[%3Bvnd.vst.idref%3Dchapter01]!/4/2/80/36/70/2/1:13[ci Me Graw HI New Tab connect Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers, $340,000; Cash paid for rent, $40,000; Cash paid to employees for services rendered during the year, $120,000; Cash paid for utilities, $50,000. In addition, you determine that customers owed the company $60,000 at the end of the year, and no bad debts were anticipated. Also, the company owed the gas and electric company $2,000 at year-end, and the rent payment was for a two-year period. Calculate accrual net income for the year. Jul 17, 2023, 10:38 PM
Chapters 10 and 11 HOMEWORK X CengageNOWv2| Online teachin x ô https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogres.. Chapters 10 and 11 еBook Show Me How Print Item Bennett Enterprises issues a $396,000, 30-day, 9%, note to Spectrum Industries for merchandise inventory. Assume a 360-day year. If required, round your answers to the nearest dollar.If an amount box does not require an entry, leave it blank. a. Journalize Bennett Enterprises' entries to record: 1. the issuance of the note. 2. the payment of the note at maturity. 1. 2. > b. Journalize Spectrum Industries' entries to record: 1. the receipt of the note. 2. the receipt of the payment of the note at maturity. 1. 2.
5 5 AutoSave On File 2. K9 O Undo A Home Insert Draw Page Layout Formulas Data 0 X Paste Clipboard 5 B Total credit sales Accounts Receivable.xlsx Saved v . Calibri B IU • XV. fx C 17 Accounts Receivable 18 Allowance for doudtful debts 19 D ✓11 Ready Accessibility: Investigate Font V • Α Α΄ V E V 8- A $ % 98 F == Review View Help G 8 9 Accounts Receivable written off 0 Credit issued to customers for sales returns 1 Recovery of Accounts Receivable, written off 12 as uncollectible in the prior year (not included in the cash collected above) 13 14 15 The following were taken from the Balance Sheet dated Dec 31, 20X4 16 Alignment Search (Alt+C H Sheet1 ex. for income stmt. approach Practice Question Sheet4 22 1 V 620,000 5450 14500 3400 General 96400 9700 J V Number 20 Jeremy Company estimated that bad debts (uncollectible) to be equal to 0.5% of credit sales, net of sales returns 21 22 Calculate the Accounts Receivable and Allowance for doubtful debts accounts balances as at Dec 31, 20X5…
V:00 O %OTO O a 4 ull Asiacell 2_53303922564... -> Use the following data to prepare card store by using Fifo method, Lifo method and av. cost : 1-1/6 The balance ( 30 ) unit in price ( 1000 )D. To unit . 2-2/7 Purchase ( 50 )unit in price (1100 )D. To unit . 3-7/8 Expend ( 40 Junit to the production . ( 35 Jun price ( 1130 )D. To 5-14/9 Expend ( 35 )unit to the production. 6-17/10 Purchase ( 25 ) unit in price (1135 )D. to unit. 4-11/9
Knight Company owned 80% of the common stock of Stoop Company. Stoop had 50,000 shares of $5 par value common stock and 2,000 shares of preferred stock outstanding. Each preferred share received an annual per share dividend of $2 and is convertible into four shares of common stock. Knight did not own any of Stoop's preferred stock. Stoop also had 600 bonds outstanding, each of which is convertible into ten shares of common stock. Stoop's annual after-tax interest expense for the bonds was $2,000. Knight did not own any of Stoop's bonds. There are no excess amortizations or intra-entity transactions associated with this consolidation. Stoop reported net income of $300,000 for 2024. Knight has 100,000 shares of common stock outstanding and reported net income of $400,000 for 2024. What would Knight report as consolidated basic earnings per share? Note: Round your answer to two decimal places. Multiple Choice O $5.68 $6.37 O M Saved 12+ Sep 16 5:02
1:14 1 Back Chapter 3 Homework.xlsx ЕЗ.5 E3.6 ЕЗ.11 E3.23 P3.2Aa P3.2Ab P3.2Ac P3.2A (LO 2, 3, 4), AP The Skyline Motel opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as follows. Skyline Motel Trial Balance 5/31/22 Account Debit Credit Cash S3,500 Supplies Prepaid Insurance 2,080 2,400 12,000 Land Buildings Equipment Notes Payable Accounts Payable Unearned Rent Revenue Common Stock Rent Revenue 60,000 15,000 S40,000 I1,180 3,300 35,000 10,300 Advertising Expense Salaries and Wages Expense Utilities Expense 600 3,300 900 $99,780 $99,780 Other data: 1. Prepaid insurance is a l-year policy starting May 1, 2022. 2. A count of supplies shows $750 of unused supplies on May 31. 3. Annual depreciation is $3,000 on the buildings and S1,500 on equipment. 4. The note payable interest rate is 12%. (The note was taken out on May 1 and will be repaid along with interest in 2 years.) 5. Two-thirds of the unearned rent revenue has been earned. 6. Salaries and…
Please help me do excercise 6-13 thanks so much
Using the following information, what is the cost to lease a car? (Assume there are no charges for damage at the end of the lease) Security deposit Monthly lease payment Opportunity cost of security deposit End-of-lease charges $140 $140 per month for a five-year lease $140x loan period (in years) * 3% interest $340
Hoover Corp., a wholesaler of music equipment, issued $11,200,000 of 20-year, 9% callable bonds on March 1, 20Y2, at their face amount, with interest payable on March 1 and September 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions. Refer to the Chart of Accounts for exact wording of account titles. 20Y2 Mar. 1 Issued the bonds for cash at their face amount. Sept. 1 Paid the interest on the bonds. 20Y4 Sept. 1 Called the bond issue at 102, the rate provided in the bond indenture. (Omit entry for payment of interest.)
E 3 17 R H Herzing College | Canadian Care: X HAC202 Acc Il 07/23: Topic Four A: X + https://online.herzing.ca/mod/assign/view.php?id=333642 HERZING Question 7: Submission status Big Trust is a non-governmental organization that gives charity to orphans in Ontario. The members of the Trust make subscriptions to fund the organization. There are ten members who are required to make subscriptions of $140,500 each per annum. All subscriptions for the year 2020 were received. Three members contributed a total of $240,640 in excess for that year. They agreed that the excess subscriptions can be carried forward to the following year. Required: 1. What is the accounting name given to theses excess subscriptions? 2. Shall the excess subscriptions be recorded as assets or liabilities of Big Trust? Explain. 3. Provide the end of the year accounting treatment for the excess subscriptions as they would appear in: o The income statement • The statement of financial position Submission A ✩ No attempt…