15? since you have 10 left on hand after last night's inventory check you should get 15 if you don't know the rate at which each are sold.
Answer:
Creative Design Co.
Bank Reconciliation
August 31, 20Y6
Cash balance according to Bank Statement $30,270
Add: Deposit in transit, not recorded by bank <u> $4,690</u>
$34,960
Less: Outstanding checks <u> ($5,850)</u>
Adjusted Balance $29,110
Cash balance according to Company's records $28,800
Add: Error in recording check (840 - 480) <u> $360 </u>
$29,160
Less: Bank service costs <u> ($50) </u>
Adjusted balance $29,110
Answer:
the journal entry to record this adjustment would be:
December 31, 202x, adjustment to merchandise inventory
Dr Accounts payable 3,090
Cr Merchandise inventory 3,090
When goods are purchased FOB destination, the title of the goods passes only after the goods have been delivered to the buyer. Also, freight costs should be paid by the seller. When goods are purchased FOB shipping point, the title of the goods passes after the goods leave the seller's dock, they are considered property of the buyer even if they haven't arrived yet. Freight costs are generally paid by the buyer.
Answer:
$49.01 per Share
Explanation:
We can find the value of the unit share of company that will be dissolved at the end of year 2 by using the following formula:
<u>Current Price per Share = Value of Firm Today (Step1) / Number of Shares</u>
= $1,862,345 / 38,000 shares
= $49.01 per Share
<u></u>
<u>Step 1: Find the value of the firm in today's price by using the discounting technique</u>
Value of Firm Today = Cash Flow for Year 1 / (1+r)^1 + Cash Flow for Year 2 / (1+r)^2
= $860,000 / (1 + 11%)^1 + $1,340,000 / (1 + 11%)^2
= $774,774 + $1,087,571
= $1,862,345
