BelleEnfance is a company that designs, manufactures and markets wooden toys You have recently been hired as Head of Accounting At the end of 2020, you meet a representative of IY, your audit firm, in order to analyze the following trial balance you have just prepared All units are $ Land 410 Machines 1200 Accumulated depreciation Machines 360 Vehicles 500 Accumulated depreciation Vehicles 0 Trade receivables 300 Cash 134 Inventory at 30 11 2020 702 Financial Assets 50 Share Capital 1100 Retained Earnings 480 Trade payables 319 Loan payable 290 Sales 8160 Purchase 5200 Staff cost 1355 Other operating expenses 870 Interest income 12 Interest expense 0 Wood constitutes the only inventory of BE and it is measured according to the Weighted Average Cost (WAC) Method Thanks to your regular and reliable work as Head of Accounting, the value of wood in the trial balance is up to date as of 30 November 2020 the company had 78 cases at a unit price according WAC method of $9 The following transactions of December are not yet taken into account 04 12 20, BE acquired 25 boxes of wood at a unit price of $9 From 05 12 20 to 31 12 20, BE consumed 60 boxes of wood Questions Please answer the following questions Date 30 11 2020 Operation Initial inventory What are the Input Qty, Price, and Value What are the Output Qty, Price, and Value What are the Inventory Oty, Price and Value The adjustment represents an amount of $ This adjustment (does not change increases decreases) inventory This adjustment (does not change increases decreases) net income This adjustment (does not change increases decreases) cash Case 1 BE (35 points) Important for simplification purposes, do not consider VAT In this serie All amounts in thousands of Euros except indicated otherwise Tags 18 seintel Inventory recognition Runinder of the information on 2002 Belentence is a company that des natura mas wooden toy You have recently been hired an idol Accounting And of 2000, you neel presentative of your ut fim, an order to race the following a balance you have a prepared KE 410 1200 300 500 300 134 Wood comes the only inventory of Band Name ording to the Wested Arab Com WC Method Thanks to your regular and be work as Head of Accounting the value of wood in the balance up to date and November 2000 The company had to come un proccording WAC to del The town one of Dornber of yet the account 041220, Bored 25 bones of wood stunt price fel From 03 1320 e 301200Brando os Promote the site 700 50 Land Machines Accumulated depreciation Machines Vehicles Red depreciation Vehicle Trade recevoie Cam Inventory 12000 Financial Sure Capital Retained Eige Trade payable Loan payable Sales Purchase Bacon Other operating per Interest income Interested mory Gye Value trout Ouv Date Operation PriceVay Price 30 11 2020 walivary 04 12 2020 Purchase 11 12 2020 pense 1100 480 319 200 8160 5200 70 12 This does not change Thiet Does not change The Does not change Increases Decreases Does not change 0 A few days later, it comes back to you with additional information regarding four topics and asks you to w the corresponding questions see the following pages

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BelleEnfance is a company that designs, manufactures and markets wooden toys. You have recently been hired as Head of Accounting. At the end of 2020,

BelleEnfance is a company that designs, manufactures and markets wooden toys.

You have recently been hired as Head of Accounting. At the end of 2020, you meet a representative of IY, your audit firm, in order to analyze the following trial balance you have just prepared.

All units are $.

Land: 410

Machines: 1200

Accumulated depreciation - Machines: -360

Vehicles: 500

Accumulated depreciation - Vehicles: 0

Trade receivables: 300

Cash: 134

Inventory at 30/11/2020: 702

Financial Assets: 50

Share Capital: 1100

Retained Earnings: 480

Trade payables: 319

Loan payable: 290

Sales: 8160

Purchase: - 5200

Staff cost: -1355

Other operating expenses: - 870

Interest income: 12

Interest expense: 0

Wood constitutes the only inventory of BE and it is measured according to the Weighted Average Cost (WAC) Method. Thanks to your regular and reliable work as Head of Accounting, the value of wood in the trial balance is up to date as of 30 November 2020: the company had 78 cases at a unit price according WAC method of $9.

The following transactions of December are not yet taken into account:

04/12/20, BE acquired 25 boxes of wood at a unit price of $9.
From 05/12/20 to 31/12/20, BE consumed 60 boxes of wood.

Questions:

Please answer the following questions.

Date: 30/11/2020

Operation: Initial inventory

What are the Input Qty, Price, and Value?

What are the Output Qty, Price, and Value?

What are the Inventory Oty, Price and Value?

The adjustment represents an amount of $___
This adjustment (does not change / increases / decreases) inventory
This adjustment (does not change / increases / decreases) net income
This adjustment (does not change / increases / decreases) cash

Case 1: BE (35 points) Important for simplification purposes, do not consider VAT In this serie All amounts in thousands of Euros except indicated otherwise Tags: 18. seintel-Inventory recognition Runinder of the information on 2002 Belentence is a company that des natura mas wooden toy You have recently been hired an idol Accounting. And of 2000, you neel presentative of your ut fim, an order to race the following a balance you have a prepared KE 410 1200 -300 500 . 300 134 Wood comes the only inventory of Band Name ording to the Wested Arab Com WC Method. Thanks to your regular and be work as Head of Accounting the value of wood in the balance up to date and November 2000. The company had to come un proccording WAC to del The town one of Dornber of yet the account 041220, Bored 25 bones of wood stunt price fel - From 03 1320 e 301200Brando os Promote the site 700 50 Land Machines Accumulated depreciation Machines Vehicles Red depreciation Vehicle Trade recevoie Cam Inventory 12000 Financial Sure Capital Retained Eige Trade payable Loan payable Sales Purchase Bacon Other operating per Interest income Interested mory Gye Value trout Ouv Date Operation PriceVay Price 30/11/2020 walivary 04/12/2020 Purchase 11/12/2020 pense 1100 480 319 200 8160 5200 . -70 12 This does not change Thiet Does not change The Does not change Increases Decreases Does not change 0 A few days later, it comes back to you with additional information regarding four topics and asks you to w the corresponding questions - see the following pages