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aksik [14]
3 years ago
7

Windsor Company took a physical inventory on December 31 and determined that goods costing $191,500 were on hand. Not included i

n the physical count were $24,510 of goods purchased from Pelzer Corporation, f.o.b. shipping point, and $21,620 of goods sold to Alvarez Company for $29,090, f.o.b. destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Windsor report as its December 31 inventory?
Business
1 answer:
WINSTONCH [101]3 years ago
7 0

Answer:

$237,630

Explanation:

Windsor report as its December 31 inventory:

= Inventory in hand as per physical count + Goods purchased from P corporation under FOB shipping basis + Cost of goods sold to A company under FOB destination basis

= $191,500 + $24,510 + $21,620

= $237,630

Therefore, the amount to be reported by Windsor company is $237,630.

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The organization primarily responsible for establishing accounting and reporting standards in the United States is the Financial
Triss [41]

Answer:

This statement is True.

Explanation:

The Financial Accounting Standards Board (FASB) is the successor of the <u><em>Accounting Principles Board</em></u> and was founded in 1973. Currently based in Norwalk - Conn, the FASB is responsible of establishing the Generally Accepted Accounting Principles (GAAP), and, overall, is in charge of setting accounting and financial reporting standards for public and private companies, as well as non-profit organizations in the United States. The FASB is also currently working to establish worldwide acceptable standards together with the International Accounting Standards Board (IASB).

6 0
3 years ago
List TWO consequences for a company if they receive a qualified audit opinion
Lorico [155]
It can affect the company's ability to get a lending (borrow money). It can also affect the chances of finding an investor.
6 0
3 years ago
Both Bond Sam and Bond Dave have 7.3 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has three
Zarrin [17]

Answer:

Sam change:   -5.13%

Dave change -18.01%

Explanation:

If interest rate increase by 2%

then the YTM of the bond will be 9.3%

We need eto calcualte the present value of  the coupon and maturity of the bond at this new rate:

<em><u>For the coupon payment we use the formula for ordinary annuity</u></em>

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

Coupon payment: 1,000 x 7.3% / 2 payment per year: 36.50

time 6 (3 years x 2 payment per year)

YTM seiannual: 0.0465 (9.3% annual /2 = 4.65% semiannual)

36.5 \times \frac{1-(1+0.0465)^{-6} }{0.0465} = PV\\

PV $187.3546

<u><em>For the maturity we calculate usign the lump sum formula:</em></u>

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity: $ 1,000.00

time: 6 payment

rate: 0.0465

\frac{1000}{(1 + 0.0465)^{6} } = PV  

PV   761.32

Now, we add both together:

PV coupon $187.3546 + PV maturity  $761.3154 = $948.6700

now we calcualte the change in percentage:

948.67/1,000 - 1 = -0.051330026 = -5.13

For Dave we do the same:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 36.50

time 40

rate 0.0465

36.5 \times \frac{1-(1+0.0465)^{-40} }{0.0465} = PV\\

PV $657.5166

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity   1,000.00

time   40.00

rate  0.0465

\frac{1000}{(1 + 0.0465)^{40} } = PV  

PV   162.34

PV c $657.5166

PV m  $162.3419

Total $819.8585

Change:

819.86 / 1,000 - 1 = -0.180141521 = -18.01%

6 0
3 years ago
Prove that F=Gm1m2/d2​
podryga [215]

Answer:

From the statement of Universal law of gravitation,

F ∝ m1 m2

F ∝ 1/d²

by combing above two equations we get,

F ∝ m1 m2/d²

F = G m1 m2/d²

HOPE THIS HELP!!

MARK IT AS BRAINLIEST!!!!

6 0
3 years ago
Which of the following is an indicator of how much output the average person would get if all output were divided up evenly amon
Effectus [21]

Answer:

C. per capita  GDP

Explanation:

Per capita income is the average income earned per person in a country during a specified period of time . It is the measure of a country's Gross domestic products against its total population.

Per capita GDP is a measure of a country's economic output that accounts for its number of people. It divides the country's gross domestic product by its total population.  it a good measurement of a country's standard of living. It tells you how prosperous a country feels to each of its citizens.

It is calculated by dividing the total GDP of a country by its population

therefore going by the question and the explanation given the best possible answer is C. Per capita GDP

5 0
3 years ago
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