Business, 20.01.2020 20:31 madskate9993
Inferring transactions from financial statements costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at locations across the u. s. as well as in canada, the united kingdom, japan, australia, south korea, taiwan, mexico and puerto rico. as of its fiscal year-end 2008, costco had approximately 53.5 million members. selected fiscal-year information from the company's balance sheets follows. ($ thousands). selected balance sheet data 2009 2008 merchandise inventories $5,039 $4,879 deferred membership income (liability) 748 692
(a) during fiscal 2008, costco collected $1,562 cash for membership fees. use the financial statement effects template to record the cash collected for membership fees.
(b) in 2008, costco recorded $63,503 in merchandise costs (that is, cost of goods sold). record this transaction in the financial statement effects template.
(c) determine the value of merchandise that costco purchased during fiscal-year 2008. use the financial statement effects template to record these merchandise purchases. assume all of costco's purchases are on credit.
Answers: 1
Business, 22.06.2019 06:10
P11.2a (lo 2, 4) fechter corporation had the following stockholders’ equity accounts on january 1, 2020: common stock ($5 par) $500,000, paid-in capital in excess of par—common stock $200,000, and retained earnings $100,000. in 2020, the company had the following treasury stock transactions. journalize and post treasury stock transactions, and prepare stockholders’ equity section. mar. 1 purchased 5,000 shares at $8 per share. june 1 sold 1,000 shares at $12 per share. sept. 1 sold 2,000 shares at $10 per share. dec. 1 sold 1,000 shares at $7 per share. fechter corporation uses the cost method of accounting for treasury stock. in 2020, the company reported net income of $30,000. instructions a. journalize the treasury stock transactions, and prepare the closing entry at december 31, 2020, for net income. b. open accounts for (1) paid-in capital from treasury stock, (2) treasury stock, and (3) retained earnings. (post to t-accounts.) c. prepare the stockholders’ equity section for fechter corporation at december 31, 2020.
Answers: 1
Business, 22.06.2019 16:50
According to ceo heidi ganahl, camp bow wow requires a strong and consistent corporate culture to keep all local franchise owners "on the same page" and to follow a common template for the business and brand. this culture could become detrimental over time because: (a) strong consistent cultures are inflexible and incapable of adapting to environmental change (b) strong consistent cultures are too flexible and capable of adapting to environmental change (c) strong consistent cultures don’t perform well in any environment (d) the passing of time provides stability and predictability for businesses
Answers: 2
Business, 22.06.2019 18:00
Acountry made education free in mandatory up to age 15. it is established 100 new schools to educate kids across the country. as a result, citizens acquired the _ required to work. the school's generated _ for teachers and other staff. in 20 years, to countryside rapid _ and its gdp.
Answers: 3
Business, 22.06.2019 19:10
Robin hood has hired you as his new strategic consultant to him successfully transform his social change enterprise. robin has told you that he counting on your strategic management knowledge to him and his merrymen achieve their goals. discuss in detail what you think should be robin’s two primary strategic goals and continue by also explaining your analytical reasons that support your recommendations.
Answers: 3
Inferring transactions from financial statements costco wholesale corporation operates membership wa...
Business, 28.01.2020 17:48
Computers and Technology, 28.01.2020 17:49
English, 28.01.2020 17:49
Social Studies, 28.01.2020 17:49
English, 28.01.2020 17:49
Mathematics, 28.01.2020 17:49
Mathematics, 28.01.2020 17:49
English, 28.01.2020 17:49
Mathematics, 28.01.2020 17:49
Mathematics, 28.01.2020 17:49
History, 28.01.2020 17:49
Mathematics, 28.01.2020 17:49
Physics, 28.01.2020 17:49