Inventories do not include $15,000 of merchandise that was in transit on December 31, which was sold to a customer with terms f.o.b. destination. The inventory reached the customer on January 5, 2020 Inventories also do not include $20,000 inventory that was received by Royale Ltd. for consignment. Explain whether the 2 inventory items mentioned should be included or excluded from Cameron Corp.’s inventory and why?

Answers

Answer 1

Answer:

They both have to be included in the inventory


Related Questions

Aryn is a music fan, and she enjoys learning about how speakers and sound systems are wired. She is reading books about electrical circuits, and she has decided she would like to work as an electrician on construction projects to help build new homes. However, she does not want to go to school for very long after finishing high school. What type of training would best prepare Aryn for working in construction without needing many years in school? an apprenticeship done on the job a bachelor’s degree in engineering a physics class during her last year of high school an after-school program about power tools

Answers

Answer:

An apprenticeship done on the job

Apprenticeship since that’ll give her more real life experience as compared to the other options, which are mostly academia related

The bookkeeper for the company has prepared the following balance sheet as at December 31, 2018: Cameron Corp Balance Sheet December 31, 2019 Current Liabilities Long-term Liabilities Shareholders' Equity $.237.500 437,500 494,800 Cash Accounts Receivable (net) Inventories Investments Land Building (net) Copyright (net) $ 40,250 (1) 85,550 (2) 105,000 (3) 60,000 (4) 350,000 (5) 525,000 (6) 4.000 (7) $1.169,800 $1.169.800 The following additional information is provided: 1. The cash balance includes: Petty cash fund Cash advance to employee, payable on demand Saving Account at TD Bank Certificate of deposit (90-days) Chequing account at the Bank of Montreal Bank overdraft at the Scotia Bank Total $ 250 1,000 23,000 10.000 6,750 (750) S_40.250 2. The allowance for doubtful accounts $7,750. 3. - The net realizable value of the inventory that is included in the Balance Sheet is $100,000.- - Inventories do not include $15,000 of merchandise that was in transit at December 31, which was sold to a customer with terms f.o.b. destination. The inventory reached the customer on January 5, 2020 - Inventories also do not include $20,000 inventory that was received by Royale Ltd. for consignment. 4. The investments section includes the following: notes receivable that was issued on September 1st, 2019 bearing interest at 6% and due on August 31, 2020 $20,000; long-term FV-OCI investment $30,000 carrying value (fair value $26,000 at December 31,2019); and FV-NI Investment 500 common shares of Landon Inc. purchased at $10.00 per share (fair value $11.50 per share at December 31,2019). The company expects to sell the FV-NI shares as soon as the market price increases next year. 5. The land balance includes: land used for operations and recorded at its appraised value of $350,000 (the original cost of the land was $275,000). The company uses the historical cost method to account for property, plant & equipment. 6. The building originally cost $750,000. Depreciation for 2019 has already been recorded. 7. The copyright originally cost $10,000 and is being amortized over 5 years on a straight-line basis. Amortization for 2019 had already been recorded. 8. The company borrowed $50,000 from ABC Bank. The bank charges 5% and the loan is due May 1st 2025. As part of the bank loan, ABC Bank required Cameron Corp. to pledge their building as security for the loan (in other words it is the banks collateral). How to do adjustment in Inventories in part (3) and Investment in part (4)?

Answers

Answer:

lolol

Explanation:

What the flip is this on about???!?

How many 1/2 are there in 6?​

Answers

Answer:

[tex]\boxed{12}[/tex]

Explanation:

Hey there!

To find the amount of 1/2’s in 6 we will divide,

6 / 1/2

= 12

So there are 12, 1/2’s in 6.

Hope this helps :)

There are 6 half’s.
Her

Barnes & Noble and Amazon would be considered a(n) _______ because they sell similar products. Question 4 options: strategic group oligopoly overlapping group customer group

Answers

Answer:

oligopoly

Explanation:

Your answer will be oligopoly

What can you do to ensure guest and
team member safety?

Answers

To ensure the safety of guests and team members:

1. Constantly check that chairs, tables and other furniture are well secured to floors, walls or wherever they need to be

2. Make sure that wet or dangerous areas are fixed

3. Look for suspicious people as they may be a threat

4. Always know the place and check for any changes that may occur

Hope that helped!!! k

Answer:

Basically, you are to comply with all safety precautions given. Either at the work shop, offices, or at home. Also, instructions should be given to guest and team members on how to use the safety equipment provided.

Explanation:

Interpersonal Professional Communication According to your textbook, when is an email message appropriate for communicating?

Answers

Answer:

Explanation:

An email message is appropriate for communicating when sending short and informal messages, whether responding to inquiries or requesting for information from the recipient. An email message should be brief, concise, clear and straight to the point.

Also, sometimes someone who is sending an email could have multiple receivers hence such email needs to be sent and then saved or archived afterwards. Where a person is sending longer attachments, an email can be used as a cover document for such.

Emails are not meant for angry responses, negative news, hence must be thoroughly edited because they are considered permanent once they are sent . The focal point of discussion should be the topic in an email communication; while it is advisable to begin communication only when one has been able to gather relevant information instead of just responding.

When you need some serious help

Practice Question 25 Which one of the following is an effective method of evaluating a cost center? Compare actual total costs with flexible budget data. Compare actual controllable costs with static budget data. Compare actual controllable costs with flexible budget data. Compare the actual profit generated with expected profit.

Answers

Answer:

C). Compare actual controllable costs with flexible budget data.

Explanation:

The Cost center is very crucial to be determined by an organization as it indirectly bestows its profitability. It is usually calculated by comparing the actual cost generated by the department to the expectations as per the budgeted cost. Thus, the most constructive method to evaluate a cost center would be the 'comparison between the actual controllable costs and the flexible budget data' as it helps in assessing the actual expense incurred during the year and whether it is lesser or greater than the cost estimated in the budget. Hence, option C is the correct answer.

Yo that’s crazy keep working
Other Questions
The strategic appeal of related diversification is that it Multiple Choice allows a firm to reap the competitive advantage benefits of skills transfer, lower costs (due to economies of scope), cross-business use of a powerful brand name, and/or cross-business collaboration in creating stronger competitive capabilities. is less capital intensive than unrelated diversification because related diversification emphasizes getting into cash cow businesses (as opposed to cash hog businesses). involves diversifying into industries having the same kinds of key success factors. is less risky than unrelated diversification because it avoids the acquisition of cash hog businesses. facilitates the achievement of greater economies of scale since the company only enters those businesses that serve the same types of buyer groups and/or buyer needs. The roller coaster car reaches point A of the loop with speed of 20 m/s, which is increasing at the rate of 5 m/s2. Determine the magnitude of the acceleration at A if pA In The Ancient City, the author compares details of several kinds of Greek clothing. What is the central idea thatconnects all the clothing the author describes?They are all pinned or knotted at both shoulders.O They are all made from a rectangular piece of cloth. They are all worn by both men and women.They are all worn by the middle and upper classes. simplify (-x) 2-2x if you experience brake failure... what are some non examples of hydroshere Which of the following note values could not be used with a 3/4 time signature? quater note half note or whole note note or dotted half noterely need help An economy begins in long-run equilibrium, and then a change in government regulations makes holding money less attractive. a. (1.5 points) How does this change affect the demand for money A factory costs $400,000. It will produce an inflow after operating costs of $100 000 in year 1. $ 200,000 in year 2, and $ 300,000 in year 3. The opportunity cost of capital is 12%. Calculate NPV. Pisa, Inc. leased equipment from Tower Company under a four-year lease requiring equal annual payments of $344,152, with the first payment due at lease inception. The lease does not transfer ownership, nor is there a bargain purchase option. The equipment has a 4 year useful life and no salvage value. Pisa, Inc.s incremental borrowing rate is 8% Pisa, Inc. uses the straight-line method to amortize similar assets. What is the amount of amortization expense recorded by Pisa, Inc. in the first year of the assets life? What causes magma in the lower mantle of Earth to rise up toward the crust? A market situation in which a large number of firms produce similar but not identical products is called Will a precipitate of magnesium fluoride form when 300. mL of 1.1 10 3 M MgCl 2 are added to 500. mL of 1.2 10 3 M NaF? [K sp (MgF 2) = 6.9 10 9] 50 POINTSS!! While preparing a roof, patty drops a screwdriver from a height of 80 feet. The function (h)t = -16t^2 + 80 gives the height of the screwdriver in the feet as feet after t seconds during its fall. Which of these is the graph of the function Which use of symbolism in the story most suggests that the narrator feels stressed in the passage "Which of the following are covered under the Securities Exchange Act of 1934? I Registration of new issues II Stabilization of new issues III Registration of exchanges IV Registration of broker/dealers" A retail operation has an average gross margin of 35%. If the average monthly sales for the store is $200,000.00, what is the cost of goods sold? John the Baptist had a ministry similar to that ofA. JeremiahB. MalachiC. Elijah The view that individuals weigh all available evidence when they formulate their expectations about economic events (including information concerning the probable effects of current and future economic policy) is called:__________.a) the adaptive expectations hypothesis.b) the permanent income hypothesis A two-lane, one-way ramp from an urban expressway with a design speed of 30 mi/h connects with a local road at a T-intersection. The turning roadway has a vertical curb on both sides. Determine the width of the turning roadway if the predominant turning vehicles are single unit trucks with some semi-trailers. Use 0.08 for super-elevation if applicable.