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
olga55 [171]
3 years ago
13

As a result of a thorough physical inventory, Sheridan Company determined that it had inventory worth $320800 at December 31, 20

20. This count did not take into consideration the following facts: Herschel Consignment currently has goods worth $46300 on its sales floor that belong to Sheridan but are being sold on consignment by Herschel. The selling price of these goods is $74900. Sheridan purchased $22000 of goods that were shipped on December 27, FOB destination, that will be received by Sheridan on January 3. Determine the correct amount of inventory that Sheridan should report.
Business
1 answer:
uranmaximum [27]3 years ago
6 0

Answer:

Sheridan Company

The correct amount of inventory that Sheridan should report is:

= $367,100

Explanation:

a) Data and Calculations:

December 31 Inventory based on physical inventory =      $320,800

Goods held on consignment by Herschel =                            46,300

December 27, FOB destination goods ($22,000)                   0

Correct amount of inventory that Sheridan should report $367,100

b) Goods on consignment are generally the property of the consignor (supplier) and not the consignee's (retailer's).  Therefore, they must appear in the balance sheet of the consignor.  Goods on FOB destination remain the property of the supplier until they reach the buyer's destination.  This is why it is not included above.

You might be interested in
During the direst part of the Great Depression, approximately ______ percent of the nation's workers was unemployed.
vova2212 [387]
29.4 percent of workers
7 0
2 years ago
g At the beginning of the month, the Forming Department of Martin Manufacturing had 22,000 units in inventory, 30% complete as t
Liula [17]

Answer:

62,000 units

Explanation:

Calculation to determine how many units did the Forming Department start and complete in the current month

Total units completed and transferred 84,000 units

Less Inventory at the beginning of this month 22,000 units

Units Forming Department started and completed in the current month 62,000 units

(84,000 units-22,000 units)

Therefore The number of units that the Forming Department started and completed in the current month is 62,000 units

7 0
3 years ago
Assume that the level of capital flows between the U.S. and the country of Krendo is negligible (close to zero) and will continu
murzikaleks [220]

Answer:

Stronger

Explanation:

Given that inflation affects trade flows, as the higher price of commodities have negative impacts on exports rates. Thus, all things being equal, it is expected that high inflation should cause downward pressure on the exchanger rate of Krendo.

Hence, the inflation effect will be STRONGER than the interest rate effect in influencing the exchanger rate of Krendo against the U.S. dollar.

3 0
3 years ago
Masters Corp. issues two bonds with 20-year maturities. Both bonds are callable at $1,050. The first bond is issued at a deep di
I am Lyosha [343]

Answer:

Explanation:

a)

The YTM of the bond at par value is equals to its coupon rate, 8.75%. Other things being equal, this 4% coupon rate bond will be more eye-catching as the coupon rate is lower than the current market yields, and its price is far below the call price. So, if yields drop, capital gains on the bond will not be restricted by the call price.

b)

If an investor foresees that yields will fall considerably, the 4% bond proposes a better expected return.

c)

Implicit call protection is offered in the sense that any likely fall in yields would not be nearly enough to make the firm consider calling the bond. In this sense, the call feature is almost irrelevant

3 0
3 years ago
studies exploring nurses’ perceptions about using robots to insert ivs found initial resistance, with some nurses concerned abou
Dima020 [189]

Answer:

Explanation:

Refreezing

5 0
2 years ago
Other questions:
  • When a buyer acquires a property having an existing mortgage loan, a decision must be made as to whether or not the subsequent o
    10·1 answer
  • Ue or false: increasing the number of stocks in a portfolio reduces market risk.
    13·1 answer
  • Compute the total manufacturing cost for a manufacturer with the following information for the month. Raw materials purchased $
    10·1 answer
  • For much of the first half of the twentieth​ century, managers viewed work specialization as​ ________.
    8·1 answer
  • EXERCISE 6-3
    9·1 answer
  • The president of Deal Corporation wrote to Boyd, offering to sell the Deal factory for $300,000. The offer was sent by Deal on J
    11·1 answer
  • Pamela was injured in an auto accident by an uninsured driver. Pamela filed a claim with her insurer, American Mutual, for $2,00
    8·1 answer
  • Which of the following statements is​ FALSE? A. According to the constant dividend growth​ model, the value of the firm depends
    7·1 answer
  • Look at the image pls help
    9·1 answer
  • Cosmo has just made his dream come true of buying the property that his restaurant occupies. His excitement is short lived, howe
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!