Inventories do not include $15,000 of merchandise that was in transit on December 31, which was sold to a customer with terms f. o.b. destination. The inventory reached the customer on January 5, 2020 Inventories also do not include $20,000 inventory that was received by Royale Ltd. for consignment. Explain whether the 2 inventory items mentioned should be included or excluded from Cameron Corp.’s inventory and why?

Island novelties, inc., of palau makes two products—hawaiian fantasy and tahitian joy. each product's selling price, variable expense per unit and annual sales volume are as follows:

Which statement describes a monopoly? many firms produce identical products with no control over the market price. many firms produce differentiated products with control over market price. a single firm produces a product with no close substitutes and control over the market price. a single firm produces a product with many close substitutes and limited control over the market price.

Colah company purchased $1.8 million of jackson, inc. 8% bonds at par on july 1, 2018, with interest paid semi-annually. when the bonds were acquired colah decided to elect the fair value option for accounting for its investment. at december 31, 2018, the jackson bonds had a fair value of $2.08 million. colah sold the jackson bonds on july 1, 2019 for $1,620,000. the purchase of the jackson bonds on july 1. interest revenue for the last half of 2018. any year-end 2018 adjusting entries. interest revenue for the first half of 2019. any entry or entries necessary upon sale of the jackson bonds on july 1, 2019. required: 1. prepare colah's journal entries for above transaction.