Answer:
$249,500
Explanation:
Calculation for the amount that Sheridan should report as its December 31 inventory
Using this formula
December 31 inventory=Goods costing+Goods purchased +Goods sold
December 31 inventory=$198,500+$25,000+$26,000
December 31 inventory=$249,500
Therefore the amount that Sheridan should report as its December 31 inventory will be $249,500
Answer:
The beginning inventory was $2000.
Explanation:
First, we need to calculate the Cost of Goods sold. The cost of Goods sold is the difference between the Sales and the gross profit. Thus, the cost of goods sold is 16000 - 10000 = $6000
The value of the beginning inventory for the period can be calculated by using the Cost of Goods sold formula. The cost of goods sold is calculated as:
Cost of goods sold = Beginning inventory + Purchases - Closing Inventory
Plugging in the available figures in the formula,
6000 = Beginning Inventory + 8000 - 4000
6000 = Beginning inventory + 4000
6000 - 4000 = Beginning Inventory
Beginning Inventory = $2000
Answer:
d. shareholder voting rights
Explanation:
Cumulative is characteristic of preferred stock, in that dividend not paid in a year is carried forward and to be paid in the future.
When the preferred stock is non-cumulative, the dividend not paid in a year is forfeited.
Preferred stock or debenture can be convertible into a known number of common stock in the future.
The characteristic of common stock is that it entitles its holders to vote on certain major decisions.
Answer:
$27,250
Explanation:
The computation of incremental income or loss on reworking the units is shown below:-
For computing the incremental income or loss on reworking the units first we need to follow some steps which is shown below:-
Incremental revenue per unit = Selling price after rework - Selling price as scrap
= $22.00 - $5.60
= $16.40
Total Incremental Revenue = Incremental revenue per unit × Total defective units
= $16.40 × 2,500
= $41,000
Total rework costs = Total defective units × Defects per unit
= 2,500 × $5.50
= $13,750
Now,
Incremental income or loss on reworking the units = Total Incremental Revenue - Total rework costs
= $41,000 - $13,750
= $27,250
Three essential <span>principles of test construction are:
1. consistency. It refers to the consistency </span><span>between the goal of the subject, course, and the methods of teaching goals. Also consistency between the methods and what the test measures. </span><span>
2. validity. Validity refers to t</span>he ability of a test to measure what it was designed to measure. It can be material od skill.
3. reliability. The <span>test must be constructed in such a way that it will produce reliable, consistent results .</span>
