Question: I need help with this question. Please show all work, thank you! Which of the following should not be included in the physical imventory of

I need help with this question. Please show all work, thank you!
Which of the following should not be included in the physical imventory of a company?
a. Goods held on consignment from another company
b. Goods shipped on consignment to another company
c. Goods in transit from another company shipped FOB shipping point
d. None of the answer choices are correct
I need help with this question. Please show all work, thank

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

I need help with this accounting question. Please show all work, thank you! Which of the following statements is correct with respect to inventories? a . The FIFO method assumes that the costs of the...

Q:

Need help with accounting question. Please show all work, thank you. Jasinski jeweiry produces a component for lapel pins. Budgeted production in April is 8,400 units. Each unit requires 1/3 ounce of...

Q:

I need help with this question. Please show all work, thank you! QUESTION 2 Cecil gives goods on consignment to Jerry who agrees to try to sell them for a 2 0 % commission. At the end of the...

Q:

I need help with this question. Please show all work, thank you! QUESTION 1 Tinker Bell Company has the following: Units Unit Cost Inventory, Jan. 1 8 , 0 0 0 $ 1 0 Purchase, June 1 9 1 3 , 0 0 0 1 2...

Q:

I need help with the following accounting question. Please show your work, thank you. Problem 2. On January 2, 2016, East Company acquired 30% of the stocks of West Company for $20 million in cash....

Q:

I need help with this question. Please show your work, thank you! Understating beginning Inventory will understate: a.net income. b.assets. c.cost of goods sold d.owner's equity Oa. Ob.. O c.. O d

Q:

I need help with this question. Please show all work, thank you! Understating beginning Inventory will understate: a . net income. b . assets. c . cost of goods sold d . owner's equity.

Q:

I need help on this question. Please show your work, thank you! Tinker Bell Company has the following; ( Details is attached ) If Tinker Bell has 9 , 0 0 0 units on hand on Decemeber 3 1 , the cost...

Q:

I need help with this question. Please show all work, thank you! Buehler Company on June 15 sells merchandise on account to Chaz Co. for $2,000, terms 2/10, n/30. On June 20, Chaz Co.returns...

Q:

I need help with this question. Please show all work, thank you! At the beginning of the month, the accounts receivable subsidiary ledger showed balances for Apple Company $15,000 and Berry Company...

Q:

Explain why the audit of prepaid insurance should ordinarily take a relatively small amount of audit time if the clients assessed control risk for acquisitions is low.

Q:

Bob and Melissa Grant are married and live in Lexington, Kentucky. The Grants have 17-year old twin daughters. The Grants would like to file a joint tax return for the year. The following information...

Q:

Ethical Issue: Deborah Grayson Riegel, a communication skills expert, has this to say about team presentations: Ive found that group presentations tend to fall into the trap of creating a feeling of...

Q:

In the context of knowledge management, which task is performed by the chief knowledge officer ( CKO ) in an organization? Group of answer choices Focusing on gaining and leveraging a keen...

Q:

What immediate HRM actions would you take to address the crisis and keep the shipyard afloat?

Q:

Recognize the link between HRM practices and strategic decisions and their implementation.

Q:

The case addresses some major challenges for HRM in manufacturing (the workforce shortage, recruitment challenges, retention and attrition, and low employee engagement). How did OSVs management...