Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 21, 2024

The home office ships merchandise to the branch at 25 percent above cost. If the balance before closing in the Intracompany Inventory Profit account is

The home office ships merchandise to the branch at 25 percent above cost. If the balance before closing in the Intracompany Inventory Profit account is 66,000 and Shipments from Home Office amounted to 300, 000 , what was the cost of the branch's beginning inventory ?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting A Contemporary Approach

Authors: David Haddock, John Price, Michael Farina

3rd edition

77639731, 978-0077639730

Students also viewed these Accounting questions

Question

2.59 Electrolysis An analytical chemist wanted to use electrolysis to determine the number of moles of cupric ions in a given volume of solution. The solution was partitioned into n = 30 portions of...

Answered: 1 week ago

Question

★★★★★

A process that produces titanium forgings for automobile turbocharger wheels is to be controlled through the use of a fraction nonconforming chart. Initially, one sample of size 150 is taken each day...

Answered: 1 week ago

Question

★★★★★

Current Attempt in Progress Total fixed costs are $34,200 for Sandhill inc it has a unit contribution margin of $14 and a contribution margin ratio of 40%. Compute the break-even point in...

Answered: 1 week ago

Question

★★★★★

Hi - Break-even and other CVP analysis exercise problem has me stuck, can you please assist? Break-even and other CVP analysis Quebec Inc. manufactures and sells a single product. The information...

Answered: 1 week ago

Question

★★★★★

Rambo Company has three products, A, B, and C. The following information is available: Product A Product B Product C Sales $60,000 $90,000 $24,000 Variable costs 36,000 48,000 15,000 Contribution...

Answered: 1 week ago

Question

★★★★★

After reading aloud a certain fable to his fifth graders, mr osmet asks some students 'so who can you tell me the moral of this story> When the students don't respond immediately he tells them, "the...

Answered: 1 week ago

Question

★★★★★

The following table gives amount of annual spending of a country s defense budget in billions of dollars for military construction Let x 12 correspond to the year 2012 Sketch the graph of the...

Answered: 1 week ago

Question

★★★★★

Post an explanation of how identity, privilege, power, and oppression influence professional practice based on Janet Helms's explanation in the Microtraining Associates video. Then explain the...

Answered: 1 week ago

Question

★★★★★

VWX Inc., has sales of $500,000, net income of $80,000, dividend payout of 50%, total assets of $700,000 and target debt-equity ratio of 1.5. If the company grows at its sustainable growth rate in...

Answered: 1 week ago

Previous Question Next Question