Business, 18.04.2020 03:53 darkremnant14
The Constance Corporation’s inventory at December 31, 2021, was $127,500 (at cost) based on a physical count of inventory on hand, before any necessary adjustment for the following: Merchandise costing $17,500, shipped f. o.b. shipping point from a vendor on December 27, 2021, was received by Constance on January 5, 2022. Merchandise costing $47,500 was shipped to a customer f. o.b. shipping point on December 28, 2021, arrived at the customer’s location on January 6, 2022. Merchandise costing $23,500 was being held on hand for Jess Company on consignment. Estimated sales returns are 20% of annual sales. Sales revenue was $555,000 with a gross profit ratio of 30%.
What amount should Constance Corporation report as inventory in its December 31, 2021, balance sheet?
Multiple Choice
a. $160,250
b. $145,250
c. $187,250
d. $190,250
Answers: 2
Business, 22.06.2019 08:10, rleiphart1
Bakery has bought 250 pounds of muffin dough. they want to make waffles or muffins in half-dozen packs out of it. half a dozen of muffins requires 1 lb of dough and a pack of waffles uses 3/4 lb of dough. it take bakers 6 minutes to make a half-dozen of waffles and 3 minutes to make a half-dozen of muffins. their profit will be $1.50 on each pack of waffles and $2.00 on each pack of muffins. how many of each should they make to maximize profit, if they have just 20 hours to do everything?
Answers: 3
Business, 22.06.2019 09:40, watervliet2586
The relationship requirement for qualifying relative requires the potential qualifying relative to have a family relationship with the taxpayer. t or fwhich of the following is not a from agi deduction? a. standard deductionb. itemized deductionc. personal exemptiond. none of these. all of these are from agi deductions
Answers: 3
Business, 22.06.2019 11:30, fjjjjczar8890
Which of the following statements about cash basis accounting is true? a. it is more complicated than accrual basis accounting. b. the irs allows all types of corporations to use it. c. it follows gaap standards. d. it ensures the company always knows how much cash flow it has.
Answers: 2
The Constance Corporation’s inventory at December 31, 2021, was $127,500 (at cost) based on a physic...
Mathematics, 23.09.2019 01:10
Social Studies, 23.09.2019 01:10
Mathematics, 23.09.2019 01:10
Mathematics, 23.09.2019 01:10