Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Mar 11, 2022

Tidwell Company's goods in transit at December 31 include sales made (1) FOB destination (2) and purchases made (3) (4) FOB shipping point FOB

Tidwell Companys goods in transit at December 31 include sales made(1) FOB destination(2)FOB shipping pointand purchases

Tidwell Company's goods in transit at December 31 include sales made (1) FOB destination (2) and purchases made (3) (4) FOB shipping point FOB destination FOB shipping point. Which items should be included in Tidwell's inventory at December 31? O (1) and (3) O (2) and (4) O (2) and (3) O (1) and (4)

Step by Step Solution

★★★★★

3.40 Rating (156 Votes )

There are 3 Steps involved in it

Step: 1

Sales FOB destination indicates sales will be recorded when the goods reaches the ... blur-text-image

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

Financial and Managerial Accounting the basis for business decisions

Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello

16th edition

0077664078, 978-0077664077, 78111048, 978-0078111044

More Books

Students also viewed these Accounting questions

Question

★★★★★

Which of the following items should be included in inventory? a. Goods held by our agents for us b. Goods out on consignment c. Goods held by us but awaiting return to vendor because the goods do not...

Answered: 1 week ago

Question

★★★★★

The following items should be included in merchandise inventory: a. Goods in transit with sales terms FOB destination b. Additional costs necessary to put inventory in a place and condition for sale...

Answered: 1 week ago

Question

★★★★★

Jensen Tire had two large shipments in transit at December 31. One was a $125,000 inbound shipment of merchandise (shipped December 28, F.O.B. shipping point), which arrived at Jensens receiving dock...

Answered: 1 week ago

Question

★★★★★

Maicom Construction Materials Inc. , hereinafter referred to as "MCM", is a construction materials company established in Moncton, New Brunswick. Its facilities (warehouse, store and offices) are...

Answered: 1 week ago

Question

★★★★★

Suppose two black holes meet and coalesce into one larger black hole. If they each have the same mass M and Schwarzschild radius R, (a) Express the single black holes Schwarzschild radius as a...

Answered: 1 week ago

Question

★★★★★

Which of the following is not a disadvantage of renting a home? (a) no tax deduction (b) no investment value (c) higher up-front fees (d) increasing costs over time

Answered: 1 week ago

Question

★★★★★

3.37 Test-Interviews, continued Refer to Exercise 3.36. a. Find the correlation coefficient, r, to describe the relationship between the two tests. b. Would you be willing to use the second and...

Answered: 1 week ago

Question

★★★★★

Janzen Inc. sells all of its product on account. Janzen has the following accounts receivable payment experience: Percent paid in the month of sale ..........20 Percent paid in the month after the...

Answered: 1 week ago

Question

★★★★★

Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31; (b) the statement of owner's equity for the year ended December 31 [ Note : R....

Answered: 1 week ago

Question

★★★★★

Calculate the following four reliability coefficients using the Pearson product-moment correlation formula, correlate the scores to determine the reliability coefficient (xx). Show your work. 3....

Answered: 1 week ago

Question

★★★★★

A lot of focus is being directed at ethics today and organizations are taking special care to project an ethical face to the outside world. What, in your opinion, are the primary reasons for this,...

Answered: 1 week ago

Question

★★★★★

The data represent the cost, return on investment, and graduation rate for a random sample of fifty colleges or universities in the United States. The data is from payscale.com. The variable "Cost"...

Answered: 1 week ago

Question

★★★★★

Compute the increase in customer lifetime value (CLV) for a Rosewood patron under the proposed branding initiative. Your customer lifetime value analysis should use the Excel workbook (link posted...

Answered: 1 week ago

Question

★★★★★

A project manager is leading an agile team. The daily standups and iteration meetings are currently facilitated by the product owner. A team member contacts the project manager and mentions that they...

Answered: 1 week ago

Question

★★★★★

obin is filling out a performance review form for his employee, Sally, who has made more sales than anyone else in the department. Since Sally has very good sales skills, Robin rates Sally high...

Answered: 1 week ago

Question

★★★★★

Section Four 10 points Directions: Using your knowledge of contract formation and defenses, please review the following scenarios and state whether there is a valid contract, that is an offer,...

Answered: 1 week ago

Question

★★★★★

( 3 0 pts ) Biodiesel is formed by the reaction of lipids ( fats and oils ) with an alcohol in the oresence of a catalyst ( usually base ) . However, water is often in the oils and needs to be emoved...

Answered: 1 week ago

Question

★★★★★

What is your opinion of advertising awards, such as the Cannes Lions, that are based solely on creativity? If you were a marketer looking for an agency, would you take these creative awards into...

Answered: 1 week ago

Question

★★★★★

Monster Toys is considering a new toy monster called Garga. Annual sales of Garga are estimated at 100,000 units at a price of $8 per unit. Variable manufacturing costs are estimated at $3 per unit,...

Answered: 1 week ago

Question

★★★★★

Refer to Exercise 26.11. Assume Concrete Suppliers Inc. has assembled the following expected annual income statement data for each of its trucks. Sales... . . . . . . . . . . . . . . . . . . . . . ....

Answered: 1 week ago

Question

★★★★★

Jackson Specialties has been in business for more than 50 years. The company maintains a perpetual inventory system, uses a LIFO flow assumption, and ends its fiscal year at December 31. At year-end,...

Answered: 1 week ago

Question

★★★★★

5. How is the auditory cortex like the visual cortex?

Answered: 1 week ago

Question

★★★★★

25. What early experience is necessary to maintain binocular input to the neurons of the visual cortex?

Answered: 1 week ago

Question

★★★★★

1. Through which mechanism do we perceive low-frequency sounds (up to about 100 Hz)?

Answered: 1 week ago

Previous Question Next Question