Accounting Valuation Of Inventory Homework Help
- November 14, 2017
- Posted by:
- Category: Accounting QA
Best UK USA UAE Australia Canada China Accounting Valuation Of Inventory Homework Help Service Online
Ashton Limited is currently reviewing its inventory at year-end to determine whether a write down is required for net realizable value. The major components of inventory are as follows
Cost | Net Realizable Value | Fair Value | |
S-1 | $ 38,000 | $ 42,000 | $ 46,150 |
S-2 | 62,000 | 49,700 | 50,850 |
S-3 | 47,500 | 52,500 | 44,600 |
S-4 | 79,600 | 82,300 | 90,005 |
S-5 | 22,300 | 13,280 | 13,885 |
Total | $249,400 | $239,780 | $245,490 |
How much of a write-down should W Company record if any to reflect the valuation of inventory in accordance with the Accounting Standards for Private Enterprise?
2.Stanley Inc., a publicly accountable entity, acquired a new building on January 1, 20×10. The following major components have been identified:
Roof $2,000,000 10 year useful life
Walls 6,000,000 20 year useful life
Fixtures 4,000,000 10 year useful life
Furnace 1,000,000 8 year useful life
Other 600,000 10 year useful life
The company has adopted the straight line method of depreciation with all assets having a zero residual value. On December 31, 20×16 the roof is replaced at a cost of $3,000,000. What loss if any would the company report due to the roof replacement?
3.Simon Limited has arranged to exchange an under utilized truck for some land currently not being used by Garfunkel Corp. Simon has agreed to pay $56,000 in addition to providing the truck in the exchange. The land had recently been appraised at a fair value of $120,000 and the fair value of the truck is $80,000. The truck’s original cost was $110,000 and had been depreciated $20,000. Since Simon has determined that the transaction has commercial substance, what entry should Simon be making to account for the exchange?
How it Works?
How it Works?
Step 1:- Want to buy solution for this. Please click on submit your assignment here and then fill all details and please mentioned product code at the end of the case. Product code is extremely important to locate your assignment. You can also mail us by keeping product code as mail subject to besthomewrokhelpers@gmail.com
Step 2:- As soon as we received your details, we will inform you with through email about quotations of the given assignment. Requesting you to please mention your budget. Also ensure our email besthomeworkhelpers@gmail.com should not go into your spam folder.
Step 3:- Once you agree with our price, click on pay now and pay the agreed amount and once we received the payment assignment will be delivered before agreed deadline.
Step 4:-You can also call us in our phone no. as given in the top of the home page or chat with our customer service representatives by clicking on chat now given in the bottom right corner.
Features
Our Features for Assignment Help Services
Plagiarism Free Solution
The first and foremost things that we promise to our customer is plagiarism free solution i.e. a complete and unique solution as per customer’s university requirements.
Excellent Customer Care Services
You can feel our responsiveness once you use our service. Our team of excellent and dedicated customer service representatives are always ready to provide best customer care service 24X7 . Just drop a mail to besthomeworkhelpers@gmail.com and you can receive response in just no time.
Multiple Stage Quality Assurance
We design a unique multiple stage quality assurance team to ensure plagiarism free, original, relevant and as per customer’s requirements. We not only give importance to accurate solutions or writing but also we give equal importance to references style too.
Privacy and Confidentiality
We believe in maintaining complete privacy and confidentiality of all our clients. None of the information furnished to us is shared with anyone else.
Our Clients
We receive requests from clients all over the World. Most of our customers are from USA, UK, Australia, Canada, UAE, Muscat, Oman, Qatar, UAE, New-Zealand, France Germany etc.
Related Services
- Accounting Homework Help
- Accounting Assignment Help
- Computer Science Homework Help
- Management Homework Help
- Finance Assignment Help
- Online Essay Writing Help
- Strategic management case study help
- Case Study Assignment Help
- Dissertation Writing Help
- Trade finance case study help
- Project Management Assignment Help
- Mechanical Engineering Homework Help
- Online Quiz Help
- Maths homework Help
- Online Exam Help
- Economics Assignment Help
- Economics Homework Help
- English Homework Help
- Macroeconomics Homework Help
- Microeconomics Homework Help
- Statistics Assignment Help
- Australia Taxation Homework Help
- Supply chain management homework help
- Taxation homework help
- USA taxation assignment help
- Advanced accounting homework help online
- Auditing homework writing help
- Human resource management homework help
- Nursing homework help online
- Psychology homework help online
- Sociology homework help online
- Ratio analysis homework help online
- Strategic Management Homework Help Online
- Mba operations management homework help
- Human resource management homework help
- Operations management homework help
4.At the beginning of the year, Lynn Corp. (a publicly accountable entity) purchased equipment for a price of $3,400,000 to be repaid in 6 years. As an incentive, the vendor offered low interest financing at a rate of 1.5% per year when prevailing market interest rates were 4%. Matthews uses the diminishing balance method of depreciation with a rate of 30% for this type of equipment with an estimated residual value of $400,000. Based on this information what would be the total charge to the Matthews Corp. Statement of Income in the fourth year from the date the equipment was acquired.
5.Pillow Corp. a publicly accountable entity is planning on building an extension to their existing factory. As a qualifying asset, activity on the project commenced in January 2011 and was completed in December of the same year Expenditures were incurred as follows (assume expenditures occurred at the beginning of the month)
Expenditures:
January $ 800,000
April 600,000
July 1,100,000
September 1,400,000
October 900,000
December 500,000
To finance the project, the company borrowed $2,200,000 at a rate of 5.5% at the beginning of the year. Any other financing was to come from existing debt lines that included:
7.00% bank line of credit of $6,000,000
5.50% bank line of credit of $8,000,000
To account for this project the company
a) will capitalize interest on the asset specific borrowing.
b) will make an accounting policy choice to either capitalize the interest or expense the
interest on the asset specific borrowing.
c) will capitalize $141,477.
d) will capitalize $170,922
Product Code: ACC659
Looking for Accounting Valuation Of Inventory Homework Help , please submit your details here with product code mentioned above.