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snow_tiger [21]
3 years ago
9

Umatilla Bank and Trust is considering giving Flint Corporation a loan. Before doing so, it decides that further discussions wit

h Flint Corporation’s accountant may be desirable. One area of particular concern is the Inventory account, which has a year-end balance of $300,370. Discussions with the accountant reveal the following.
1. Flint Corporation sold goods costing $58,510 to Hemlock Company FOB shipping point on December 28. The goods are not expected to reach Hemlock until January 12. The goods were not included in the physical inventory because they were not in the warehouse.
2. The physical count of the inventory did not include goods costing $95,240 that were shipped to Flint Corporation FOB destination on December 27 and were still in transit at year-end.
3. Flint Corporation received goods costing $23,320 on January 2. The goods were shipped FOB shipping point on December 26 by Yanice Co. The goods were not included in the physical count.
4. Flint Corporation sold goods costing $50,750 to Ehler of Canada FOB destination on December 30. The goods were received in Canada on January 8. They were not included in Flint Corporation physical inventory.
5. Flint Corporation received goods costing $45,110 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive December 31. This purchase was included in the ending inventory of $300,370.
Business
1 answer:
kap26 [50]3 years ago
5 0

Answer:$364,520 is the year end stock

Explanation:

Stock records at year end. 300,370

1. Add $58,510, ownership of good on fob remains with vendor until delivery.

2.ignore $95240 from closing stock because they have not been receive at year end

3.1gnore $ 23,320 from closing stock because they have not been receive at year end

4. Include 50,750 in closing stock because they have not been deliver at year end.

5. Exclude $45110 from closing stock because they were not receive at year end.

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Assuming an upward-sloping as curve, if consumption spending falls while all other levels of expenditure stay the same in an economy that is at full employment, a GDP gap will be visible.

Retail store managers will take activities that result in greater Unemployment when undesirable inventories build up.

<h3>What is GDP?</h3>
  • Gross domestic product (GDP) is a monetary indicator of the total market worth of all the finished products that nations create over a certain time period.
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  • Consumption, investment, government spending, exports, and imports make up the components of the GDP when it is calculated using the expenditures method.
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8 0
2 years ago
Discuss why South Africa as a country has a scarcity of skilled workers, and how this can be changed more especially in terms of
FromTheMoon [43]

South Africa, as a country still experiences a scarcity of skilled workers.  This should not be, given the country's population size.

<h3>What is the scarcity of skilled workers?</h3>

The scarcity of skilled workers means that South African companies cannot attract the manpower they need to power the South African industry and economy.

However, this scarcity can become a thing of the past if many more South African companies can start investing in the education sector by giving out scholarships, grants, and endowing academic chairs in the universities.

This was how the economy of the United States was enabled to flourish until today.  South African companies can emulate their footsteps.

Thus, South Africa, given its enormous population, has no business experiencing a scarcity of skilled workers.

Learn more about the scarcity of skilled workers at brainly.com/question/1787954

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2 years ago
You are a rookie police officer and are riding with a Field Training Officer (FTO). During your shift the FTO stops at a conveni
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I will report the Field Training Officer to the higher authority.

Explanation:

If I was rookie police officer and are riding with a Field Training Officer (FTO) and he was drinking while on duty, I would report it, because he is endangering my life and his and others around us. It is important to note that irrespective of previous evaluation or submission made on me by the FTO, it is unethical for any trained police officer to take any amount of alcoholic drinks while on duty. Because when someone is under the influence of beers, he/she does not function effectively and may act abnormally.

7 0
3 years ago
holdup bank has an issue of prefered stock witha standard deviation of $7 that just sold for $87 per share. What is the banks co
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Answer: 8.05%

Explanation:

From the question, we are informed that Holdup bank has an issue of prefered stock witha stated dividend of $7 that just sold for $87 per share.

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