Business, 19.11.2019 03:31, paige5horses2000

Ace company is a manufacturer of electrical appliances. the following transaction occurred near ace company’sdecember 31 ﬁscal year-end date: a packing case containing products costing $10,000 was found in ace's branch ofﬁce warehouse when the physicalinventory count was taken on december 31. the case was labeled: "hold for shipping to customer on january 5." theshipping documents show that the sale to ace’s customer is 'fob shipping."for the preparation of ace’s december 31 ﬁnancial statements, which of the following is correct? (a) the packing case should not be included in ace’s december 31 inventory balance. ace should recognize a sale inrespect ofthe inventory’s selling price.(b) the packing case should be included in ace’s december 31 inventory. ace should recognize a sale in respect of theinventory’s selling price.(c) the packing case should be included in ace's december 31 inventory. ace should not recognize a sale in respect of theinventory’s selling price.(d) the packing case should not be included in ace’s december 31 inventory. ace should not recognize a sale in respect ofthe inventory‘s selling price.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 07:40, genyjoannerubiera

Xyz corporation has provided the following data concerning manufacturing overhead for july: actual manufacturing overhead incurred $ 69,000 manufacturing overhead applied to work in process $ 79,000 the company's cost of goods sold was $243,000 prior to closing out its manufacturing overhead account. the company closes out its manufacturing overhead account to cost of goods sold. which of the following statements is true? multiple choice manufacturing overhead was overapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $253,000 manufacturing overhead was underapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $233,000 manufacturing overhead was underapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $253,000 manufacturing overhead was overapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $233,000

Answers: 1

continue

Business, 22.06.2019 19:30, dfrtgyuhijfghj4794

About 20 years ago, sturdy light, inc., produced a sturdy, lightweight backpack in a market that was rapidly growing. sturdy light became a leader in this market. eventually, the backpack market reached the maturity stage and slowed down. however, by this time, sturdy light had developed a strong brand name and continued to steadily lead the market. which of the following describes this scenario? a. sturdy light was a star that developed into a cash cow. b. sturdy light was a question mark that developed into a star. c. sturdy light was a dog that developed into a question mark. d. sturdy light was a cash cow that developed into a star.

Answers: 2

continue

Business, 23.06.2019 10:00, sneakypanther19

If a business is in need of working capital, one option is to use a(n) that will buy the company's account receivables and then handle their collection for a fee.

Answers: 2

continue

Business, 23.06.2019 11:10, elysabrina6697

If canada has a surplus of paper products produced but its consumers demand more cleaning solutions, and the us has an abundance of cleaning solutions but consumers are demanding more paper products, how would trade benefit both countries? trade would assist both countries by creating excess demand. trade would assist both countries by strengthening their natural resources. trade would assist both countries to both reduce excess supply and satisfy market demand.

Answers: 3

continue

Do you know the correct answer?

Ace company is a manufacturer of electrical appliances. the following transaction occurred near ace...