Sheridan Company took a physical inventory on December 31 and determined that goods costing $225,000 were on hand. Not included in the physical count were $24,200 of goods purchased from Pelzer Corporation, FOB shipping point, and $21,200 of goods sold to Alvarez Company for $29,200, FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end.

Answers

Answer 1

Answer:

$270,400

Explanation:

FOB shipping point: (transfer of risk and reward takes place when the goods are shipped for transfer.

The purchased inventory that was not included are under FOB shipping point, which means that the risks and rewards associated with the inventory has been transferred at the year end. Hence the ownership has been shifted. This means the purchase must be included in the inventory.

FOB destination: The transfer of ownership takes place once the other party receives the order.

As the sold inventory are under FOB destination, which means that the risks and rewards assoiciated with the inventory are not yet transferred. Hence the ownership has not been shifted. This means the sold inventory must be included in the inventory.

Calculation:

Goods on Hand                                             $225,000

Goods Purchased FOB Shipping Point         $24,200

Goods Sold on FOB Destination                  $21,200  

Goods on Hand on December 31                 $270,400


Related Questions

What are the subjects of economics

Answers

Answer:

Econometrics.

Economic policy.

Legal studies.

Money and banking.

Global finance.

Economic history.

International trade.

Collective decisions.

Explanation:

I believe this is what you are asking for. Hope this is helpful :).

Can someone hurry and help me please!! If you answer be at least 99% sure. Thank you!
What is a likely result of an increase in trade between nations?
A. It will provide consumers with more choice at lower prices.
B. It will increase the cost of goods due to increased competition.
C. It will lower the standard of living in the weaker trade nation.
D. It will restrict the market for domestic products.

Answers

Answer:

The answer is A. It will provide consumers with more choice at lower prices.

Explanation:

Option (a), which will give customers more choices at a reduced cost, is the best choice.

What is a likely outcome of an increase in international trade?

Trade allows for the expansion of markets and access to products and services that might not otherwise be available locally. The competitiveness in the market has increased as a result of global trade. The cost of the final product for the consumer is reduced as a result of increased pricing competition.

Because it promotes market specialization, fosters innovation, and decreases the cost of commodities globally, trade is crucial for maintaining a competitive global economy. A further benefit of trade is having access to goods and services that may be more affordable and of higher quality than those that are provided domestically.

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Select the correct answer.
What is the purpose of preserving historical data?
A.
legal compliance
B.
recruitment
C.
leave sanctions
D.
payroll

Answers

Answer:

a it could be sea but I'm pretty sure it's a but I don't take business so you might not want to trust me

Answer:

A

Explanation:

i did the test

Which of the following is not included in the heading of a cover letter? a. Applicant's contact information b. Date C. Employers contact information d. Salutation​

Answers

Answer:

It's D... Just took the test

What is the difference in hormones of powerful people vs powerless? Testosterone/cortisal?

Answers

Answer: the powerless people are still very powerful with out a power vs the powerful people that have power are still weak and only powerful and strong due to the power they have.

Explanation:

i dont really know how to explain it.

Answer:

People with more of the hormone testosterone have more strength because that is the job of this specific hormone

Which statement best describes one way businesses participate in the
circular flow of goods?
A. Businesses trade goods between product and resource markets.
B. Businesses provide revenue to households that sell products.
C. Businesses create goods for product markets to sell.
D. Businesses provide the labor that works in resource markets.

Answers

Businesses create goods for product markets to sell is the statement best describes one way businesses participate in the circular flow of goods. Hence, option C is correct.

What is circular flow of goods?

The circular flow of goods shows the distribution of the goods and services between the production and households.

It is the never ending process of the circular flow between expenditure, income, production of goods and services.

Thus, option C is correct.

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Answer:

C. Businesses create goods for product markets to sell.

Explanation:

Which does branding accomplish

Answers

Answer:

A. creates a positive association

Explanation:

How do alternatives relate to thoughtful decisions

Answers

Answer:they help give better chances of making a good decision the longer the list of alternatives are.

02.01 LC)

Work you do for pay is called a _____.

A. service industry
B. diverse workforce
C. job
D. volunteer job

Answers

The correct answer is C

Acomputer game that can be purchased online and played right'away has good utility
A. Form
B. Information
C. Value
D. Time

Answers

form utility if it works well the form is great

Cycle Wholesaling sold merchandise on account, with terms n/60, to Sarah’s Cycles on February 1 for $1,200 (cost of goods sold of $700). On February 9, Sarah’s Cycles returned to Cycle Wholesaling one-quarter of the merchandise from February 1 (cost of goods returned was $190). Cycle Wholesaling uses a perpetual inventory system, and it allows returns only within 15 days of initial sale. Required: 1. to 3. Prepare the journal entry to record the sales, Goods returned on February 9 and Cash collected on March 2. 4. Calculate the gross profit percentage for the sale to Sarah’s Cycles.

Answers

Answer: Please find explanation column for answers

Explanation:

a)Journal  To record sales of merchandise

Date                 Accounts titles                Debit      Credit

Feb 1    Account receivable            1200  

Sales revenue                                               1200

Journal To record cost of goods sold

Cost of goods sold                            700  

Merchandise inventory                                          700

b)Journal To record sales return  

Date                 Accounts titles                          Debit      Credit

Feb 9 Sales return and allowance (1200/4) 300  

Account receivable                                                     300

To record cost of goods returned

Merchandise inventory                                           $190  

Cost of goods sold                                                               $190

c)Journal To record  cash collection  

Mar 2 Cash (1200 -300)                               $900

Account receivable                                                        $900

d) Gross Profit percentage  = Net Profit/Net sales =Net sales - cost oof goods sold/net sales

Cost of goods sold = cost of goods sold - cost of goods retuened = 700- 190 = 510

Net profit/ net sales = 900- 510/ 900=490/900= 0.54 = 54%

1.What is a business transaction?

Answers

Answer:

A business transaction is an event involving an interchange of goods, money or services between two or more parties.

Explanation:

A business transaction is an event involving an interchange of goods, money or services between two or more parties.  The business transacted can be between two parties engaged in business and conducting the transaction for their mutual benefits, or between a business entity, like a retail shop, and a customer.

what are expenses from those:
1. premises
2. Machinery
3. Rent received
4. Advertising
5. Motor Vehicle
6: Motor expense

Answers

Advertising
Motor Expense

Workplace harassment protects only a isn’t harassment that is physical in nature?

Answers

Answer= it’s harassment

Workers are responsible for the production of goods in a business,

but business owners exploit their workers.

A) Workers should revolt,

B) take over the businesses,

C) set up a government to run the economy on their behalf.

Which political thinker would be most likely to agree with this statement

Answers

Answer:

Karl Marx

Explanation:

Many people only remember Marx for his theories about extreme socialist governments that eventually led to communism in other parts of the world. But he actually did understand how capitalism worked, added value theories, the way capital ($) worked, and he believed that capitalism was a necessary stage in the development of society. As an economist he was brilliant, but then he turned into a sort of philosopher.

Problems started when he said that after capitalism had led to an unprecedented economic growth, then it would be time for the workers (proletariat) to take over and lead economic systems. This rule by the working class would eventually lead to a fair society where everyone would be able to prosper.

Marx's economic theories are utopian, they call for a nearly perfect world, but humans aren't perfect. If you like Star Trek, you should recall that the world runs just like Marx wanted to. The economy and living conditions are based solely on your work, that is why the world was able to unite under one single federation. But as much as I would really like to travel at warp speed, it is not possible, and I really doubt that Marx's ideas are possible either.

Compile a job advertisement for a receptionist vacancy:name of the business and title of the job advertisement.

Answers

Answer:

Receptionist (Full-time).

Explanation:

KhanyaChantell Engineering Plc. is an Engineering and ICT company focused on power distribution, disaster recovery solution, systems integration, network security, and broadband technology services. Our businesses are strongly channeled to providing reliable power, turnkey, integrated technology solutions to hotels, financial institutions, schools, oil and gas, and governmental agencies in the United States of America.

We are recruiting to fill the job position below;

Job Title: Receptionist.

Location: Nevada.

Job ID: 011234

Employment Type: Full-time.

Salary: $1,200 per month.

Minimum Requirements:

High School diploma, GED, or equivalent preferred.Minimum of 3 years experience.Proficiency in English Language (oral and written).Excellent knowledge of MS-Office.

Application Closing Date:

30th of November, 2020.

How to Apply

All interested and qualified candidates should send their curriculum vitae (CV) in pdf format using the Job Title and ID as the subject of the mail e.g (Receptionist - 011234) to Khanyachantellatkci.com.

An example of a job advertisement for a receptionist is given below:

Topmost Enterprises is looking for a qualified person to fill the role of a RECEPTIONIST.

The ideal candidate should have the following qualities:

Computer literateGood communication skills.The person should have good telephone etiquette

The salary offered is competitive and commensurate with the experience and the qualification of the person.

Interested applicants should forward their email to ....

Deadline: 30th October, 2021.

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common to this work. Note that common contexts are listed toward the top, and less common contexts are listed toward the bottom. According to O*NET, what are some common work contexts for Accountants? Check all that apply. pace determined by speed of equipment importance of repeating same tasks indoors, environmentally controlled deal with physically aggressive people telephone and electronic mail importance of being exact or accurate

Answers

Answer:

Note that common contexts are listed toward the top, and less common contexts are listed toward the bottom. According to O*NET, what are common work contexts for Actors? Check all that apply.

deal with physically aggressive people

exposed to hazardous equipment

contact with others

work with group or team

Explanation:

Answer:

A, B, E, F

Explanation:

Simon has a $250,000 life insurance policy with City Life. He has had this policy for many years, and all of the premiums have been paid. He no longer needs to make any payments in order to keep the policy in effect. Simon named his brother, Leo, as the beneficiary of the policy. Leo needs $50,000. Leo knows about the insurance policy, and that it is fully paid. Rather than take out a loan, he contacts City Life and asks for $50,000 as an advance against the full amount of the policy that will be due to him. What is City Life likely to do?

Answers

Answer:

The correct statement will be "Not give Leo the money since Leo is not vested".

Explanation:

Simon wanted to purchase a city life insurance package. Under that same agreement arrangement, Simon has compensated have all premiums owed. As that of the beneficiary including its scheme, Simon designated his brother, Leo.

Leo requires 50,000 dollars. He reaches the urban environment instead of accepting a mortgage as well as demands for the amount owed including its gain that would accumulate to him following his brother's passing.

The remaining amount through Life insurance policies can only be compensated on Simon's death and nobody even, particularly Simon and his brother Leo, seems to have the authority to charge any compensation payout against that kind of policies especially given the fact that almost all the contributions have been compensated.

So the above is the right approach.

how might a business such as sports direct benefit from buying brand names from struggling firms? (economics question)

Answers

Answer:

most people usually buy brand name products because they think it is durable,Although it is durable its expensive. We can find other clothes that are just as good but cheaper. Therefore business can benefit because people would buy the product. So the business will get more income.

Business business business

Why is determining the selling price in the global marketplace an extremely difficult task? A.Many countries still have rules governing the competitive marketplace, including those that affect pricing.B.The major challenge is identifying the elements that need to be adapted to be effective in the global marketplace.C. Distribution can be challenging in some countries if the transportation infrastructure is inadequate.D. Differences in language, customs, and culture also complicate marketers' ability to communicate with customers in various countries.E. The number of firms with which the seller needs to deal to get its merchandise to the consumer determines the complexity of a channel

Answers

Answer: A.Many countries still have rules governing the competitive marketplace, including those that affect pricing.

Explanation:

Determining the selling price in the global marketplace can be an extremely difficult task because many countries still have rules governing the competitive marketplace, including those that affect pricing.

A example of this is the situation with nations that possess weak currencies, such economies typically surplus labor which can lead to their products being cheaper in global markets.

Also, some nations try to protect their local industries and therefore use several methods like tariffs, quotas, ban on certain goods etc. These all have effects on the pricing of the goods.

Who or what is responsible for buying the vast majority of the goods and services that are produced in the United States?

1. Businesses
2. Individual Consumers
3. The Federal Government
4. Local governments

Answers

i believe it’s 2. individual consumers

After restarting a customers complaint the employee should A. Investigate the problem B. Take actin C. Listen to the customer D. Thank the customer for the complaint

Answers

I would say either C or D definitely one of those. Probably C. Please forgive me if I am wrong!

If the price of gasoline increases, most likely, ceteris paribus, the result will
be:
A. An increase in the demand for cars.
B. An increase in the supply for cars
C. A decrease in the supply for cars
D. A decrease in the demand for cars

Answers

Answer:

A

Explanation:

Hello i am happy to answer this for you.

I believe the answer is D

My reasoning is that if the gasoline prices went up people will not want to pay for the gas anymore so people will not want gas fueled cars if they have to pay a higher price for the gasoline.

Sry if wrong

in the past giving money to charity was the norm, but that is changing. how?​

Answers

Answer:

i know every one is spending money on apperence

Explanation:

PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST) 40 POINTS

Every monetary decision we make involves a level of choice, usually of one thing over another. What is the name for this financial trade-off?




A. personal risks




B. inflation




C.opportunity cost

Answers

Answer:

C

Explanation:

Im about 92% sure it is C

Answer:

C!

Explanation:

I took the test :)

Can we run our business without training or not? Give reason.​

Answers

Answer:

Ha we can run our business if we have knowledge

and we have the grip on it and first we have to put interest.

Answer:

Yes we can start our own bussiness without training. We just have to start the bussiness in the field of that thing, in which we are the most expert.

In which three areas did NAFTA reduce or eliminate tariffs?

Answers

Answer: On agriculture, textiles, and automobiles.

Explanation:

The correct answer is U.S., Canada, and Mexico.

The North American Free Trade Agreement (NAFTA) was implemented to promote trade between the U.S., Canada, and Mexico. The agreement, which eliminated most tariffs on trade between the three countries, went into effect on Jan. 1, 1994.

What tariffs did NAFTA eliminate?

On January 1, 1994, Mexico eliminated tariffs on nearly 50 percent of all industrial goods imported from the United States, including some of our most competitive products such as machine tools, medical devices, semiconductors and computer equipment, and telecommunications and electronic equipment.

How did NAFTA benefit all 3 countries?

NAFTA boosted trade by eliminating all tariffs among the three countries. It also created agreements on international rights for business investors. That reduced the cost of commerce. It spurs investment and growth, especially for small businesses.

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Consider the case of Demed Inc.: Demed Inc. has 9% annual coupon bonds that are callable and have 18 years left until maturity. The bonds have a par value of $1,000, and their current market price is $1,130.35. However, Demed Inc. may call the bonds in eight years at a call price of $1,060. What are the YTM and the yield to call (YTC) on Demed Inc.’s bonds? Value YTM YTC If interest rates are expected to remain constant, what is the best estimate of the remaining life left for Demed Inc.’s bonds? 18 years 13 years 5 years 8 years If Demed Inc. issued new bonds today, what coupon rate must the bonds have to be issued at par?

Answers

Answer:

A) YTM = 7.64%

B) YTC = 7.36%

C) 8 years

D )   7.64%

Explanation:

Annual coupon bond rate = 9%

number of year left until maturity = 18

par value of Bonds( FV ) = $1000

current market price( PV ) = $1130.35

Demed can call bonds in 8 years at a call price of $1060

A) what is the Bonds' YTM  ( yield to maturity )

we calculate the interest per period ( PMT )

= ( Fv * Annual coupon bond rate) / number of compounding per year

= (1000 * 9% ) / 1 = $90

next we calculate number of compounding periods till maturity ( NPER )

= number of years to maturity * number of compounding per year

= 18 * 1 =  18

using excel formula = RATE ( NPER,PMT,PV,FV) )

hence yield to maturity = 7.64%

B) what is YTC ( yield to call )

we calculate the interest per period ( PMT )

= $1000 * ( coupon rate / number of compounding per year )

= $1000 * ( 9% / 1 )  = $90

 next we calculate the number of compounding periods till sell

= 8 * 1 = 8

using excel formula = RATE ( NPER,PMT,PV,FV) )

Hence the YTC = 7.36%

C) Bonds will be called at 8 years and this is because the YTC is less than YTM

D )   The coupon rate for the bonds to be issued  at par,  is  7.64%

On September 3, 2018, Able, a single individual, purchased § 1244 stock in Red Corporation from his friend Al for $60,000. On December 31, 2018, the stock was worth $85,000. On August 15, 2019, Able was notified that the stock was worthless. How should Able report this item on his 2019 tax return?

Answers

He should ask them why it was worthless then after a while of thinking maybe have and idea on how to use it again

Which statement WOULD NOT be true about the value of career research?

There are many careers that would support your well-being, Career exploration allows you to find the one

that pays the most so your well-being is enhanced to the highest degree.

Opinions from different people working in the occupation should be considered before ruling out a

particular career.

Current job availability and the outlook for future employment are as essential to consider as whether you

have the skills, interest and abilities to pursue a particular career.

Everyone values different aspects of an occupation. One person might value the flexible schedule a

particular job offers and another might care more about the amount of training that career might require.

Answers

Answer: There are many careers that would support your well-being. Career exploration allows you to find the one that pays the most so your well-being is enhanced to the highest degree

Explanation:

When making a career research, it's vital to consider the opinion of the people that already have that career as their occupation as they already have the required knowledge concerning the job.

Also, one should consider the availability of job, the skills, abilities that one has and the future prospects of the job.

Furthermore, we all have something we value about careers and our opinions regarding that might be different.

Therefore, the correct option is "There are many careers that would support your well-being. Career exploration allows you to find the one that pays the most so your well-being is enhanced to the highest degree". This is false.

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