Loose Leaf Advanced Accounting with Connect Access Card
12th Edition
ISBN: 9781259184741
Author: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
Publisher: McGraw-Hill Education
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Chapter 8, Problem 17Q
To determine
Describe how a company should handle LIFO liquidation in an interim period when the liquidated inventory is expected to be replaced by year-end.
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B2
A
1 DATE VALUE
X✓ fx
2
1
3
9
4
548
56
3835
40468
VALUE
B
C
D
E
F
G
H
MEASURE
Current Date (TODAY)
VALUE
FORMULA
MEASURE
VALUE
FORMULA
Current Time (NOW)
#N/A
#N/A
Use E6 "Problem Date" for green cells in col. E & I
Cumulative full days this year
#N/A
Year to date fraction (YEARFRAC)
#N/A
Use E6 "Problem Date" for green cells in col. E & I
Month to date fraction of year
#N/A
10/8/2019
Day of the week
#N/A
6
Problem Date
7
Year (YEAR)
8 Date Value
Fractional Date
Month (MONTH)
9
40468.25
Day (DAY)
10
40468.375
11
40468.625
12
13
14
15 DATE DATA CLEANUP and MANIPULATION
End of month
Start of month
Start of next month
First day of the year
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
TIP: Use custom date format to display
as the name of the day (dddd)
Name of month
Workdays in current month
#N/A
#N/A
30 workdays (excluding weekends) from today
Days between today and 30 workdays from now
#N/A
#N/A
16
Target
$2,000
17
18 DATE
REVENUE
MONTH
DAY OF WEEK
Hit Target?
MONTH
DAY OF WEEK
FORMULAS for…
Job 528 was one of the many jobs started and completed during the year. The job required $11,200 in direct materials and 40 hours of direct labor time at a total direct labor cost of $12,600. If the job contained five units and the company billed at 65% above the unit product cost on the job cost sheet, what price per unit would have been charged to the customer?
C2
X✓ fx
Σ
N
A
B
1 Product
☑ Order Quantity
C
D
E
F
G
H
K
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Product ID
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Unit Price
Gross Sales
Formulas for Columns C, D, & E
Product
Product ID
Unit Price
2 Carry-on Suitcase
3 Carry-on Suitcase
4 Bluetooth Headphones
5 Carry-on Suitcase
6 Travel Pillow
7 Travel Umbrella
8 Battery Pack
9 Travel Pillow
10 Travel Pillow
11 Battery Pack
23
#N/A
#N/A
#N/A
Travel Umbrella
B07NQKQ19S
$12.51
#N/A
#N/A
#N/A
Bluetooth Headphones
B01NAJGGA2
$35.39
12 Battery Pack
13 Travel Pillow
14 Bluetooth Headphones
15 Battery Pack
16 Bluetooth Headphones
17 Travel Umbrella
18 Carry-on Suitcase
19 Bluetooth Headphones
20 Travel Umbrella
21 Bluetooth Headphones
22 Travel Umbrella
23 Battery Pack
24 Bluetooth Headphones
25 Carry-on Suitcase
26 Travel Pillow
27 Battery Pack
28 Carry-on Suitcase
29 Carry-on Suitcase
30 Battery Pack
31 Carry-on Suitcase
32 Travel Pillow
33 Bluetooth Headphones
34 Bluetooth Headphones
22226-22 22272122227222432-29
10
9
23
27
27
23
#N/A
#N/A
#N/A
Battery Pack
B00Z9QVE4Q
$34.98…
Chapter 8 Solutions
Loose Leaf Advanced Accounting with Connect Access Card
Ch. 8 - Prob. 1QCh. 8 - Prob. 2QCh. 8 - Prob. 3QCh. 8 - The management approach requires a firm to define...Ch. 8 - What is an operating segment?Ch. 8 - Prob. 6QCh. 8 - Prob. 7QCh. 8 - Prob. 8QCh. 8 - Prob. 9QCh. 8 - Prob. 10Q
Ch. 8 - Prob. 11QCh. 8 - To satisfy geographic area disclosure...Ch. 8 - Prob. 13QCh. 8 - Prob. 14QCh. 8 - Prob. 15QCh. 8 - Prob. 16QCh. 8 - Prob. 17QCh. 8 - How does a company determine the amount of income...Ch. 8 - Prob. 19QCh. 8 - Prob. 20QCh. 8 - What type of segment information must companies...Ch. 8 - How would an annual bonus paid at year-end be...Ch. 8 - Which of the following does U.S. GAAP not consider...Ch. 8 - Prob. 2PCh. 8 - Prob. 3PCh. 8 - Prob. 4PCh. 8 - Prob. 5PCh. 8 - Which of the following is not necessarily true for...Ch. 8 - Prob. 7PCh. 8 - Prob. 8PCh. 8 - Prob. 9PCh. 8 - Which of the following items is required to be...Ch. 8 - Prob. 11PCh. 8 - Prob. 12PCh. 8 - Prob. 13PCh. 8 - Prob. 14PCh. 8 - In considering interim financial reporting, how...Ch. 8 - How should material seasonal variations in revenue...Ch. 8 - Prob. 17PCh. 8 - Prob. 18PCh. 8 - Prob. 19PCh. 8 - Niceville Company pays property taxes of 100,000...Ch. 8 - Prob. 21PCh. 8 - Prob. 22PCh. 8 - Prob. 23PCh. 8 - Prob. 24PCh. 8 - Prob. 25PCh. 8 - Prob. 26PCh. 8 - Prob. 27PCh. 8 - Prob. 28PCh. 8 - Prob. 29PCh. 8 - Prob. 30PCh. 8 - Prob. 31PCh. 8 - Prob. 32PCh. 8 - Prob. 33PCh. 8 - Prob. 34PCh. 8 - Prob. 35PCh. 8 - Prob. 36PCh. 8 - Prob. 37PCh. 8 - Prob. 38PCh. 8 - Noventis Corporation prepared the following...Ch. 8 - Prob. 40PCh. 8 - Prob. 41PCh. 8 - Prob. 5DYSCh. 8 - ACCOUNTING STANDARDS CASE 1SEGMENT REPORTING...Ch. 8 - ACCOUNTING STANDARDS CASE 2INTERIM REPORTING...Ch. 8 - Prob. 8DYSCh. 8 - Prob. 9DYS
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- General accountingarrow_forwardI need help solving this general accounting question with the proper methodology.arrow_forwardC2 X✓ fx Σ N A B 1 Product ☑ Order Quantity C D E F G H K L Product ID ✓ Unit Price Gross Sales Formulas for Columns C, D, & E Product Product ID Unit Price 2 Carry-on Suitcase 3 Carry-on Suitcase 4 Bluetooth Headphones 5 Carry-on Suitcase 6 Travel Pillow 7 Travel Umbrella 8 Battery Pack 9 Travel Pillow 10 Travel Pillow 11 Battery Pack 23 #N/A #N/A #N/A Travel Umbrella B07NQKQ19S $12.51 #N/A #N/A #N/A Bluetooth Headphones B01NAJGGA2 $35.39 12 Battery Pack 13 Travel Pillow 14 Bluetooth Headphones 15 Battery Pack 16 Bluetooth Headphones 17 Travel Umbrella 18 Carry-on Suitcase 19 Bluetooth Headphones 20 Travel Umbrella 21 Bluetooth Headphones 22 Travel Umbrella 23 Battery Pack 24 Bluetooth Headphones 25 Carry-on Suitcase 26 Travel Pillow 27 Battery Pack 28 Carry-on Suitcase 29 Carry-on Suitcase 30 Battery Pack 31 Carry-on Suitcase 32 Travel Pillow 33 Bluetooth Headphones 34 Bluetooth Headphones 22226-22 22272122227222432-29 10 9 23 27 27 23 #N/A #N/A #N/A Battery Pack B00Z9QVE4Q $34.98…arrow_forward
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