DELL LLC had opening stock of 200 kgs value RO 2000. They purchased 300kgs @ RO 11 and later on they purchased 400kgs RO 12. 300kgs were sold. The Value of closing stock as per First In First Out method will be a. RO 7000 b. RO 7200 c. RO 6800 d. RO 6700
Q: On 1/5/2015 , K-mart. Co acquired 90% shares of the outstanding common shares of Tesco. for $360000…
A:
Q: In 2022 Blue Company was involved in the following inter corporate stock investments; 11/12/22…
A: A journal entry is used to record the day-to-day transactions of an organization by debiting and…
Q: Direction: Analyze the case and give what is asked. On January 2, 20X1, Entity X purchases 75% of…
A: In consolidated financial statements, the unrealized gains on the transactions between the group…
Q: On July 1, 2023, Jerry Corporation acquired 25% of the shares of Von, Inc. for P1,000,000. At that…
A: Note: Since you have posted a question with multiple sub-parts, we will solve first three subparts…
Q: On August 1 2018, Sea Food Co., purchased 80% of the common stock of Dolphin Co.,. The common stock…
A: Purchased 80% of common stock of Dolphin co Common stock issue = 70000 shares Par value = OMR 25 per…
Q: Emma Consulting had previously purchased 2,439 shares of treasury stock for $8 per share. Emma then…
A: Solution: Cost of treasury stock sold = 935*$8 = $7,480
Q: On April 1, 2025, Promise Company purchased 150,000 common shares in Delta Co. for $7 per share. The…
A: Promise Company has 150,000 shares that are for sale. Shares that are held for sale are adjusted for…
Q: Use the following information in answering the next item(s): FORGIVENESS INC. is authorized to issue…
A: When the shares of a company are issued at a price above and over the face value, it is said to be…
Q: On January 2, 2009. DR. STRANGE CORP. acquired all the outstanding common stock of ATTY. WEIRD INC.…
A: Note: Since you have asked multiple question, we will solve the first question for you. If you want…
Q: Luck LLC had opening stock of 1000 units value RO 5000. They purchased 2000 units @ RO 6 and later…
A: Formula: Per unit cost = Total cost / Total units Ending inventory = units available for sale -…
Q: Key Company purchased 800 shares of Franklin Company stock at a total cost of $ 7,560 on 2010 July…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: COMBO Co. issued 20,000 shares of its P25 par value ordinary shares and 4,000 shares of its P50 par…
A:
Q: On January 1, 2024, Cat Company purchased the following investments: 1) 20,000 shares (representing…
A: Introduction: If an investor company makes an investment between 20 to 50% in the investee company…
Q: Travis Co. decided set up a corporation issuing 5000 shares of P20 par ordinary stocks trading at…
A: Deprecation may be defined as that type of operating expenses which occurs due to decrease in the…
Q: Prepare Journal Entry for the transactions above
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: Giant Inc. acquires 10% of Small Corporation on January 1, 2010, for $90,000 when the book value of…
A: Part 1. Allocation of the consideration transferred in relation to the acquisition made on January…
Q: 27-FIG LLC had opening stock of 300 kgs value RO 2400. They purchased 200kgs @ RO 9 and later on…
A: As per last in first out method, goods purchased last will be sold first, which means ending…
Q: for an equipment with a fair value of 150,000. Similarly, Travis Co. has a similar equipment which…
A: Deprecation may be defined as that type of operating expenses which occurs due to decrease in the…
Q: X co, purchased 75% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock was…
A: Goodwill on transaction of business combination is calculated by subtracting the fair value of…
Q: How much did Mr. Chavez gain? a. Php33,567.00 b. Php34,024.00 c. Php40,274.00 d. Php65,879.00
A: Capital gain or loss refers to a method which shows the relationship between capital gain and…
Q: 31. The comp
A: FV-NI i.e Fair value through net income, under this approach any changes in the fair value of…
Q: The Ludel Company acquired the net assets of the Girl Conrad Company on January 1, 2018, and made…
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: What is the net cash provided by financing activities?
A: Cash flow from financing activities includes all cash inflows and cash outflows from issuance and…
Q: 1. Prepare journal entries to record the preceding information. 2. What is the unrealized holding…
A:
Q: On 1/5/2015 , K-mart. Co acquired 90% shares of the outstanding common shares of Tesco. for $360000…
A: Answer retained earnings = $ 90000 The income of Tesco before acquisition = $20000
Q: Jupiter Bank decides to invest in trading securities in order to take advantage of short-term gains.…
A: 1. Date Account Titles Debit Credit Jan. 15, 2020 Investment in Trading Securities (1,000 *…
Q: KITE LLC had opening stock of 500 kgs value RO 2500. They purchased 600kgs @ RO 6 and later on they…
A: Under average stock method inventory is measured at average.cost. The average cost will be based…
Q: 5-KITE LLC had opening stock of 500 kgs value RO 2500. They purchased 600kgs @ RO 6 and later on…
A: Closing stock refers to the net value of stock remains at an organization at the end of the desired…
Q: Sutton Company purchased 10% of the outstanding stock of Roberts Company on January 1, 2012.…
A: In this question, we have to report event by using cost method
Q: Stock was acquired at sh.29 per unit, throughout the current year, until the last purchase (which…
A: Principles of accounting are the rules and regulations that must be pursued by an organization when…
Q: Pit Coporation owns 75% of Stop Company's outstanding common stock. On 08/28/21, Pit sold inventory…
A: Pit's journal entries:- 1). To acquire the inventory Inventory A/c debit $324,000 To…
Q: Eragano Corp. controls 80% of Habibi Garden's shares, one of the Start Up Agricultural services. On…
A: Eragano Corp. controls 80% of Habibi Garden's shares hence, it would follow the equity method for…
Q: On January 1, 2021, X Inc. purchased 25% of the voting shares of Y Inc. However, due to a system…
A: X Inc. purchased 25% of the voting shares of Y Inc. and uses the equity method as. X has significant…
Q: ABC SAOG acquired land worth OMR 80,000 from CPD LLC and issued 70,000 equity shares of OMR1 as…
A: Journal entry refers to the first recording of any transaction in the books of accounts. Here, one…
Q: Acker Company bought 100% of Howell Company on 1/1/X1 for $1,440,000 and began applying the equity…
A: Expansion and growth are motives of business. Purchasing or acquiring other firms is one of the ways…
Q: 30- FIG LLC had opening stock of 300 kgs value RO 2400. They purchased 200kgs @ RO 9 and later on…
A: LIFO means last in first out where as FIFO means first in first out. Inventory and cost of goods…
Q: Pedantic Co. purchased 20,000 shares on 1 July 20x0, making the election to use the alternative…
A: Under FVTOCI, Financial Instruments initially record at fair value and add transaaction cost…
Q: Octane Company and Bio Company have announced terms or an exchange agreement under which Octane will…
A: The question is related to Equity Section of a company. The details are given.
Q: You are given the following information about Target Inc.: Identifiable assets: Carrying amount: $…
A: Goodwill (Full) = Sale Consideration - Fair Value of Net Identifiable Assets Goodwill (Partial) =…
Q: On April 1, 2020, Car Company purchased 25,000 ordinary shares of Way Company at an amount which…
A: The investment made in other company is recorded as investment on asset side of the balance sheet.
Q: Terry’s Concrete acquired 20% of the outstanding common stock of Blakeley, Inc. on January 1, 2010,…
A: A significant influence: The power to participate in an entity's operational and financial policy…
Q: XYZ, Inc. sells 100 shares of treasury shares at $10 per share. If the cost of acquiring the shares…
A: The answer for the multiple choice question and relevant explanation are presented hereunder : When…
Q: 38-DELL LLC had opening stock of 200 kgs value RO 2000. They purchased 300kgs @ RO 11 and later on…
A: Introduction: FIFO method: FIFO stands for First in First out. Which means first received inventory…
Q: KITE LLC had opening stock of 500 kgs value RO 2500. They purchased 600kgs @ RO 6 and later on they…
A: Closing stock is computed by adding the opening stock and purchases made during the year and then…
Q: Cisco Corporation has planned right issue of 75,000,000 Ordinary shares which has par value of PKR…
A: Computation of the commissions is shown below: Here is the formula sheet attached below:
Step by step
Solved in 2 steps with 1 images
- KITE LLC had opening stock of 500 kgs value RO 2500. They purchased 600kgs @ RO 6 and later on they purchased 400kgs RO 7. 800kgs were sold. The Value of closing stock as per average price method will be a. RO 3200 b. RO 5600 c. RO 4200 d. RO 4800Luck LLC had opening stock of 1000 units value RO 5000. They purchased 2000 units @ RO 6 and later on they purchased 2500untis @ RO 7. 3000untis were sold. The Value of closing stock as per weighted average price method will be a. RO 15675 b. RO 18600 c. RO 15500 d. RO 18810Luck LLC had opening stock of 1000 units value RO 5000. They purchased 2000 units @ RO 6 and later on they purchased 2500untis @ RO 7. 3000untis were sold. The Value of closing stock as per weighted average price method will be
- KITE LLC had opening stock of 500 kgs value RO 2500. They purchased 600kgs @ RO 6 and later on they purchased 400kgs RO 7. 800kgs were sold. The Value of closing stock as per average price method will be38-DELL LLC had opening stock of 200 kgs value RO 2000. They purchased 300kgs @ RO 11 and later on they purchased 400kgs RO 12. 300kgs were sold. The Value of closing stock as per First In First Out method will be a. RO 7000 b. RO 7200 c. RO 6800 d. RO 670027-FIG LLC had opening stock of 300 kgs value RO 2400. They purchased 200kgs @ RO 9 and later on they purchased 500kgs RO 11. 400kgs were sold. The Value of closing stock Last In First Out method will be a. RO 6750 b. RO 6350 c. RO 5300 d. RO 6400
- 15-KITE LLC had opening stock of 500 kgs value RO 2500. They purchased 600kgs @ RO 6 and later on they purchased 400kgs RO 7. 800kgs were sold. The Value of closing stock as per average price method will be a. RO 4200 b. RO 3200 c. RO 4800 d. RO 5600Owner h for te a 3. O nko 100 a) 4. Draw Eg. How much stock is sold? Vehicles t equation. accounts Capita' The owner me that + SALES g account isabel Calculate the selling price of the stock sold. * How much of the stock is left unsold ? 15000 - 2000 e EXERCISE 12 Use the following two transactions to complete this exercise: Purchased trading stock per cheque, R5 000. Sold R2 000 of the stock for cash at a profit mark-up of 60%. Required: (Show workings) 3200 EXERCISE 2.2 01511 5000 LEVEL 29. % Bank 3200 ACTUAL MARK ado Aere Use the following T- Accounts, try to complete the double entry principle for the a + BANK TRADING S Sales 3200 EMO 5000 SIMULATION ... trading 2000 COST OF EXERCISE 13 Arrange the following steps in the accounting cycle in the correct sequence. W indicate the corect sequence:What is the rate of return when 15 shares of Stock A, purchased for $30/share, are sold for $500? The commission on the sale is $6. Rate of Return =[?]% Give your answer as a percent rounded to the nearest tenth. Enter 03 - 2021 Acellus Corporation. All Rights Reserved. MacBook 20 898 DO F9 24 & 4. 7. 8. 9.
- Gangadhar Co. went for buy back of 1000 share @100 at a premium of 20%. For the buyback it decided to utilize security premium account which has an existing balance of 200000. Buyback expenses stood at 5700. Pass the journal entry.Answer the Question based on the data given below; OPENING STOCK OMR 25000 CLOSING STOCK OMR 35000 NET PURCHASES OMR 130000 MANUFACTURING EXPENSES OMR 30000 What will be the average stock? O a. OMR 60000 O b. OMR 30000 O c. OMR 50000 O d. OMR S000Barnum Company stock sells at P70 a share with rights on. The subscription price is P55. Four rights are needed to purchase a new share of stock. What is the value of each right? A. P1.00B. P2.00C. P3.00D. P4.00E. None of the above