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
Rzqust [24]
3 years ago
14

Johnson corporation began the year with inventory of 14,000 units of its only product. units cost $8 each. The company uses a Pe

rpetual inventory system and the fifo cost method. The following transactions occurred during the year: a. purchase 70,000 additional units at a cost of $10 per unit. Terms of the purchases were 2 /10 n/ 30, and 100% of the purchases were paid within the 10-day discount. The company uses the gross method to record purchase discounts. The merchandise was purchased f. O. B. Shipping point and Freight charges of $0.40 per unit were paid by Johnson. b. 1400 units purchased during the year will return to suppliers for credit. Johnson was also given credit for the freight charges of $0.40 per unit it had paid on the original purchase. The units were defective and were returned two days after they were received. c. sales for the year totaled 65,000 units at $18 per unit. d. on December 28th Johnson purchased 5400 additional units at $10 each. The goods were shipped f. O. B. Destination and arrived at Johnson's Warehouse on January 4th of the following year e. 17600 units were on hand at the end of the year. required: 1. for financial reporting purposes, the company uses lifo (amounts based on the Periodic inventory system). Record the year-end adjusting entry for the lifo reserve, assuming the balance in the lifo Reserve at the beginning of the year it's $15,800 2. determine the amount the company would report as income before taxes for the year under lifo. Operating expenses other than those indicated in the above transactions amounted to $158,000​
Business
1 answer:
RideAnS [48]3 years ago
8 0
What do you want me to do here? I don’t know this sorry!
You might be interested in
Enterprises face the challenge of deciding which investments to make and how to allocate scarce resources to competing projects.
Tema [17]

Answer: Business case

Explanation: In other to eliminate the dilemma posed by having to allocate resources particularly in those which are not readily available in abundance or having to choose between two or more different options, tasks or projects, managers are often faced with a decision dilemma which are is usually analysed by making a business case in other to identify the modalities attached with each project or task on the basis of risk, benefit attached, cost, timing of such projects and so on. This will enable managers to arrive at a reasonable justification to choose an option over the other which will yield a longterm return or benefit to the organization.

5 0
4 years ago
Select each of the PACED steps below. Define the problem. Conduct an Internet search for information. List the alternatives. Sel
kumpel [21]

Answer:

Define the problem.

List the alternatives.

Select the criteria.

Evaluate the alternatives.

Make a decision.

Explanation:

4 0
3 years ago
Read 2 more answers
According to the National Association of Colleges and Employers (NACE) survey, some of the skills that employers seek include:
rodikova [14]

Answer:

1) Problem solving skills

2) Teamwork abilities

3) Strong work ethic

4) Analytic / Quantitative Skills

Explanation:

As reported by the National Association of Colleges and Employers (NACE), during their survey on skills employers seek in candidates. They have found that the most important skills employers seek in a candidate's resume aside from a good GPA are problem-solving skills and the ability to work in a team.

Other top skills that employers want are a strong work ethic and analytical/quantitative skills. These skills were among the top six in the last year's report of NACE. While this year they have become the top four most wanted skills by an employer.

There are other skills as well that employers seek such as Communication Skills (written), Leadership, Communication Skills (Verbal), Initiative, etc. However, they are not as important as the top four skills mentioned above.

8 0
3 years ago
A stock _____ is a short combination of letters used to identify the stock of a particular company. Answer ID symbol code key
Agata [3.3K]
A stock <span>symbol</span> is a short combination of letters used to identify the stock of a particular company. 
3 0
3 years ago
write down the formula that is used to calculate the yield to maturity on a 20 year 10% coupon bond with $1000 face value that s
Gennadij [26K]
The formula is

C+ F-P divided by N then the fraction bar F+p divided by 2 that should get your answer

5 0
4 years ago
Other questions:
  • Forest Components makes aircraft parts. The following transactions occurred in July:
    15·2 answers
  • Suppose Americans suddenly develop a strong taste for Canadian whiskey. What happens to the demand for Canadian dollars in the f
    6·1 answer
  • Choose the correct statement(s) below regarding the transfer of financial assets such as receivables:
    12·1 answer
  • If a mining company extracts 1,500,000 tons in a period but only sells 1,200,000 tons,
    14·1 answer
  • Suppose that the government wishes to decrease the market equilibrium monthly rent by increasing the supply the housing. Assumin
    9·1 answer
  • True or False : A population refers to the entirety of a group.
    13·2 answers
  • Despite some problems with equating GDP with economic well-being, real GDP per person does imply greater economic well-being bec
    7·1 answer
  • Mario is a skilled jet flyer that was recently hired by Meagan who is starting an airline business that allows travelers to trav
    9·1 answer
  • An investor has two bonds in her portfolio, Bond C and Bond Z. Each bond matures in 4 years, has a face value of $1,000, and has
    11·1 answer
  • List 3 components of a property management system
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!