Problem 1, The following data pertain to a single department for the month of October for ABC Company. At Cost At Retail Beginning inventory…………………………..35,000 40,000 Purchase ……………………………………...50,000 80,000 Purchase discount………………………………5,000 15,000 Purchase return and allowance…………………10,000 14,000 Sales (net)…………………………………………………………...70,00 0 Additional markup ………………………………………………….20,000 Markup cancellation ………………………………………………….5,000 Markdown ………………………………………………………….10,000 Markdown cancellation ……………………………………………...6,000 Normal spoilage……………………………………………………..7,000 Normal shortage …………………………………………………….3,000 Abnormal spoilage ………………………………………………….5,000 Required: Compute the estimated cost of ending inventory using: Conventional Retail Method Cost Retail Method Gross Profit Method, if markup percentage is 20 % on cost

Select the correct answer. joshua runs a large manufacturing business that is listed on the stock exchange. his company made good profits in the previous financial year. he now plans to reward his shareholders with handsome dividends. under which category of activities in the cash flow statement would the company’s accountants place this outflow of cash? a. investing activities b. operating activities c. financing activities d. non-operating activities

Which stage of group development involves members introducing themselves to each other?

Nell and kirby are in the process of negotiating their divorce agreement. what should be the tax consequences to nell and kirby if the following, considered individually, became part of the agreement? a. in consideration for her one-half interest in their personal residence, kirby will transfer to nell stock with a value of $200,000 and $50,000 of cash. kirby's cost of the stock was $150,000, and the value of the personal residence is $500,000. they purchased the residence three years ago for $300,000.nell's basis for the stock is $ xkirby's basis in the house is $ xb. nell will receive $1,000 per month for 120 months. if she dies before receiving all 120 payments, the remaining payments will be made to her estate.the payments (qualify, do not qualify) as alimony and are (included in, excluded from) nell's gross income as they are received.c. nell is to have custody of their 12-year-old son, bobby. she is to receive $1,200 per month until bobby (1) dies or (2) attains age 21 (whichever occurs first). after either of these events occurs, nell will receive only $300 per month for the remainder of her life.$ x per month is alimony that is (included in, excluded from) nell's gross income, and the remaining $ x per month is considered (child support, property settlement) and is (nontaxable, taxable) to nell.