1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Mademuasel [1]
4 years ago
5

Beck Company has inventory of​ $725,000 in its stores as of December 31. It also has two shipments in transit that left the​ sup

pliers' warehouses by December 28. Both shipments are expected to arrive on January 5. The first shipment of​ $210,000 was sold f.o.b. destination and the second shipment of​ $102,000 was sold f.o.b. shipping point. Beck Company also has consigned goods of​ $72,000 awaiting sale with Meyer Company. What amount of inventory should Beck Company report on its balance sheet as of December​ 31?
Business
1 answer:
FrozenT [24]4 years ago
3 0

Answer:

Total Inventory            $899,000

Explanation:

Inventory at hand            $725,000

Inventory in transit     $102,000

Inventory in consignation   $72,000

Total Inventory            $899,000

<u>Notice:</u>

<em> The first cargo </em>is under term FOB destination, which means the goods are still property of the seller, so are not part of Beck company's yet.

<em>While the second cargo</em> is fob shipping point, Beck assume possesion of the gods as soon as they enter the dock.

You might be interested in
After the manager and employee work together to set the employee’s objectives, what is the next step of mbo?.
mina [271]

The next step after setting objectives is to assign or cascade those objectives to the team members or employees.

<h3>What are the other steps in the MBO process?</h3>

After assigning the objectives to the employees (usually through a line manager), the next steps are to:

  • Monitor performance of those objectives
  • Evaluate performance
  • Reward performance.

Please see the link below for more about Management by Objective:

brainly.com/question/5731723

7 0
2 years ago
To respond to the structure of its industry, an organization should choose a __________.
Usimov [2.4K]
To respond to the structure of its industry, an organization should choose a __________.

Competitive strategy
8 0
3 years ago
Kuong Inc. sold a commercial office building used in the corporate business for $1.5 million. Kuong purchased the building in 20
mars1129 [50]

Answer: $107,600 ordinary gain and $530,400 Section 1231 gain

Explanation:

Section 1231 property is when a business property that's either real or depreciable is held for more than one year. It should be noted that section 1231 gain which arises when the property is sold will be taxed at lower capital gains tax rate which is versus the ordinary income rate.

Therefore, Kuong should characterize the $638,000 gain recognized on sale as $107,600 ordinary gain and $530,400 Section 1231 gain.

The correct option is C.

7 0
3 years ago
What the squared root of your hairline
dusya [7]

Answer:

small......

EXPLANATION:

5 0
3 years ago
Read 2 more answers
Your grandfather made an investment of $4,000 the day you were born, as such starting to earn returns immediately. His assumptio
weeeeeb [17]

Answer:

Acumulated value=57,775.84

Explanation:

this problem can be solved applying the concept of annuity, keep in mind that an annuity is a formula which allows you to calculate the future value of future payments affected by an interest rate.by definition the future value of an annuity is given by:

s_{n} =P*\frac{(1+i)^{n}-1 }{i}

where s_{n} is the future value of the annuity, i is the interest rate for every period payment, n is the number of payments, and P is the regular amount paid

But there is an special thing to keep in mind and is the initial payment so we must to calculate the 4,000 in the future so we have:

Acumulated value=s_{n} +P*(1+i)^{n}

Acumulated value=1,500*s_{18} +4,000*(1+0.06)^{18}

Acumulated value=57,775.84

3 0
3 years ago
Other questions:
  • Hummer Company purchased a delivery truck. The total cash payment was $30,020, including the following items. Negotiated purchas
    11·1 answer
  • Which of the following illustrates a tradeoff​? A. Randy enjoys ski vacations. B. I will study for my exam instead of going to t
    15·1 answer
  • Trade schools are also known as which of the following?
    5·2 answers
  • Item I51 is used in one of Policy Corporation's products. The company makes 20,800 units of this item each year. The company's A
    5·1 answer
  • Resources are used efficiently in the sunhat market because when​ _______.    A. production is capital​ intensive, producer surp
    15·1 answer
  • The _____ states that combining location-specific assets or resource endowments and the firm's own unique assets often requires
    12·1 answer
  • JDW Corporation reported the following for 20X1: net sales $2,929,500; cost of goods sold $1,786,995; selling and administrative
    10·1 answer
  • If a bank that desires to hold no excess reserves and has just enough reserves to meet the required reserve ratio of 15 percent
    6·1 answer
  • What is the maximum amount of new loans the bank could lend with the given amounts of reserves?
    15·1 answer
  • A company has positive cash flows from operating activities, negative cash flows from capital expenditures, and negative cash fl
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!