Review the inventory asset transaction report. why would its total (10,756.25) differ from the inventory valuation detail
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Question:
Review the inventory asset transaction report. why would its total (10,756.25) differ from the inventory valuation detail total (9,756.25) for the same date range?
A: 1,000$ of rock fountains were purchased without using a product or service
B: the reports are for all dates, not a specific point in time (wrong tried it)
C: one thousand sprinkler heads were purchases without using a product or service
D: a negative quantity of pumps was sold
Transcribed Image Text:
Cheryl's Design and Landscaping Services Inventory Asset Transaction Report All Dates Date Transaction Type Num Name Memo/Description Split Amount Inventory Asset OS/03/2021 Bill 8112 Earthco Landscape Supplies Fountain Pump Accounts Payable (A/P) 80.00 O5/03/2021 Bill 8112 Earthco Landscape Supplies Rock Fountain Accounts Payable (A/P) 125.00 05/03/2021 Invoice 1036 Wildemess Sporting Goods:Store 5217 Fountain Pump Accounts Receivable (A/R) -10.00 OS/03/2021 Invoice 1036 Wildemess Sporting Goods:Store 5217 Rock Fountain Accounts Receivable (A/R) -125.00 05/03/2021 Cheque 75 Rockland Gravel & Supply Co Fountain Pump Chequing 30.00 05/03/2021 Cheque 75 Rockland Gravel & Supply Ca Sprinkler Pipes Chequing 62.50 05/03/2021 Cheque 75 Rockland Gravel & Supply Co Sprinkler Heads Chequing 11.25 05/03/2021 Cheque 75 Rockland Gravel & Supply Co Rock Fountain Chequing 125.00 05/03/2021 Invoice 1035 Jane Goldsby Sprinkler Pipes Accounts Receivable (A/R) -10.00 05/03/2021 Invoice 1035 Jane Goldsby Rock Fountain Accounts Receivable (A/R) -125.00 05/03/2021 Inventory Qty Adjust START Opening inventory for Rock Fountain Opening Balance Equity 375.00 OS/03/2021 Inventory Qty Adjust START Opening inventory for Rock Fountain Opening Balance Equity 05/03/2021 Invoice 1037 Brees Brothers Family Store Rock Fountain Accounts Receivable (A/R) -125.00 05/03/2021 Invoice 1037 Brees Brothers Family Store Fountain Pump Accounts Receivable (A/R) -10.00 OS/03/2021 Inventory Qty Adjust START Opening inventory for Pump Opening Balance Equity 160.00 05/03/2021 Inventory Qty Adjust START Opening inventory for Pump Opening Balance Equity 05/03/2021 Inventory Qty Adjust START Opening inventory for Sprinkler Heads Opening Balance Equity 7.50 OS/03/2021 Inventory Qty Adjust START Opening inventory for Sprinkler Heads Opening Balance Equity 05/03/2021 Inventory Qty Adjust START Opening inventory for Sprinkler Pipes Opening Balance Equity 25 05/03/2021 Inventory Qty Adjust START Opening inventory for Sprinkler Pipes Opening Balance Equity 17/03/2021 Bill 1234 Whiterack Landscaping Supplies 8 Rock Fountains Accounts Payable (A/P) 1,000.00 25/03/2021 Invoice 1038 Sorrel Golf Course Rock Fountain Accounts Receivable (A/R) -140.00 25/03/2021 Invoice 1038 Sorrel Golf Course Rock Fountain Accounts Receivable (A/R) -80.00 25/03/2021 Invoice 1038 Sorrel Golf Course Rock Fountain Accounts Receivable (A/R) -30.00 25/03/2021 Invoice 1038 Sorrel Golf Course Rock Fountain Accounts Receivable (A/R) -80.00 25/03/2021 Invoice 1038 Sorrel Golf Course Rock Fountain Accounts Receivable (A/R) -80.00 25/03/2021 Invoice 1038 Sorrel Golf Course Rock Fountain Accounts Receivable (A/R) -90.00 25/03/2021 Bill 8767 Earthco Landscape Supplies Fountain Pump Accounts Payable (A/P) 80.00 25/03/2021 Bill 8767 Earthco Landscape Supplies Sprinkler Heads Accounts Payable (A/P) 750.00 3D/03/2021 Earthco Landscape Supplies Sprinkler Pipes Accounts Payable (A/P) 8,750.00 Bill 8795 30/03/2021 Bill 8795 Earthco Landscape Supplies Fountain Pump Accounts Payable (A/P) 80.00 Total for Inventory Asset $ 10,756.25 ТOTAL 10,756.25 Cheryl's Design and Landscaping Services Inventory Asset Transaction Report All Dates Date Transaction Type Num Name Memo/Description Split Amount Inventory Asset OS/03/2021 Bill 8112 Earthco Landscape Supplies Fountain Pump Accounts Payable (A/P) 80.00 O5/03/2021 Bill 8112 Earthco Landscape Supplies Rock Fountain Accounts Payable (A/P) 125.00 05/03/2021 Invoice 1036 Wildemess Sporting Goods:Store 5217 Fountain Pump Accounts Receivable (A/R) -10.00 OS/03/2021 Invoice 1036 Wildemess Sporting Goods:Store 5217 Rock Fountain Accounts Receivable (A/R) -125.00 05/03/2021 Cheque 75 Rockland Gravel & Supply Co Fountain Pump Chequing 30.00 05/03/2021 Cheque 75 Rockland Gravel & Supply Ca Sprinkler Pipes Chequing 62.50 05/03/2021 Cheque 75 Rockland Gravel & Supply Co Sprinkler Heads Chequing 11.25 05/03/2021 Cheque 75 Rockland Gravel & Supply Co Rock Fountain Chequing 125.00 05/03/2021 Invoice 1035 Jane Goldsby Sprinkler Pipes Accounts Receivable (A/R) -10.00 05/03/2021 Invoice 1035 Jane Goldsby Rock Fountain Accounts Receivable (A/R) -125.00 05/03/2021 Inventory Qty Adjust START Opening inventory for Rock Fountain Opening Balance Equity 375.00 OS/03/2021 Inventory Qty Adjust START Opening inventory for Rock Fountain Opening Balance Equity 05/03/2021 Invoice 1037 Brees Brothers Family Store Rock Fountain Accounts Receivable (A/R) -125.00 05/03/2021 Invoice 1037 Brees Brothers Family Store Fountain Pump Accounts Receivable (A/R) -10.00 OS/03/2021 Inventory Qty Adjust START Opening inventory for Pump Opening Balance Equity 160.00 05/03/2021 Inventory Qty Adjust START Opening inventory for Pump Opening Balance Equity 05/03/2021 Inventory Qty Adjust START Opening inventory for Sprinkler Heads Opening Balance Equity 7.50 OS/03/2021 Inventory Qty Adjust START Opening inventory for Sprinkler Heads Opening Balance Equity 05/03/2021 Inventory Qty Adjust START Opening inventory for Sprinkler Pipes Opening Balance Equity 25 05/03/2021 Inventory Qty Adjust START Opening inventory for Sprinkler Pipes Opening Balance Equity 17/03/2021 Bill 1234 Whiterack Landscaping Supplies 8 Rock Fountains Accounts Payable (A/P) 1,000.00 25/03/2021 Invoice 1038 Sorrel Golf Course Rock Fountain Accounts Receivable (A/R) -140.00 25/03/2021 Invoice 1038 Sorrel Golf Course Rock Fountain Accounts Receivable (A/R) -80.00 25/03/2021 Invoice 1038 Sorrel Golf Course Rock Fountain Accounts Receivable (A/R) -30.00 25/03/2021 Invoice 1038 Sorrel Golf Course Rock Fountain Accounts Receivable (A/R) -80.00 25/03/2021 Invoice 1038 Sorrel Golf Course Rock Fountain Accounts Receivable (A/R) -80.00 25/03/2021 Invoice 1038 Sorrel Golf Course Rock Fountain Accounts Receivable (A/R) -90.00 25/03/2021 Bill 8767 Earthco Landscape Supplies Fountain Pump Accounts Payable (A/P) 80.00 25/03/2021 Bill 8767 Earthco Landscape Supplies Sprinkler Heads Accounts Payable (A/P) 750.00 3D/03/2021 Earthco Landscape Supplies Sprinkler Pipes Accounts Payable (A/P) 8,750.00 Bill 8795 30/03/2021 Bill 8795 Earthco Landscape Supplies Fountain Pump Accounts Payable (A/P) 80.00 Total for Inventory Asset $ 10,756.25 ТOTAL 10,756.25
Expert Answer:
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ANSWER B the reports are for all dates not a specific point in time wrong tried it The minimum datas... View the full answer
Related Book For
Fundamentals of corporate finance
ISBN: 978-0470876442
2nd Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
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