60.1K

Verified Solution

Link Copied!

580 2,500 1,800 Seven Corporanion had the following items listed in its trial balance at 12/3 1/2018: 3,100 11,000 Currency and coins Balance in checking account Customer checks waiting to be deposited Treasury bills, purchased on 11/1/2018 mature on 4/30/2019 Marketable equity securities Commercial paper, purchased on 11/1/2018 mature on 1/30/2019 4,600 What amount will Steven Corporation include in its year-end balance sheet as cash and cash equivalents? $8,190 $9,480. $12,580. $23,580. A. B. C. D. 2. Bond Company adopted the dollar-value LIFO inventory method on January 1, 2018. In applying the LIFO method, Bond uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO: Ending Inventory At Current Cost At Base Year Cost $306,000 321,500 359,000 Year 1/1/2018 12/31/2018 12/31/2019 Cost Index $306,000 337,575 430,800 1.00 1.05 1.20 Under the dollar-value LIFO method, the inventory at December 31, 2019, should be A. $367,275. B. $359,000. C. $359,775 D. None of these answer choices are correct. Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: 3. Skis $165,000 137,000 135,000 Apparel $108,000 Boots Supplies $64,000 44,800 iSelling price Cost Replacement cost Sales commission $157,000 138,000 127,000 10% 70,200 90,200 40,800 10% 10% 10% In applying the lower of cost or net realizable value rule, the inventory of skis would be valued at: A. . $137,000. $135,000. $115,500. $148,500. . TEL D. 4. On January 1, 2018, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2019. Expenditures on the project were as follows: 316,000 462,000 January 1, 2018 September 1, 2018 December 31, 2018 March 31, 2019 September 30, 2019 $ 462,000 462,000 $ 316,000 $

Answer & Explanation Solved by verified expert

See Answer