Assignment

ACCT 100 Principles of Financial Accounting Assignment 3 cod Date: take leave of Class on Wednesday 10 October hesitancy 1 You are the attendee for InstaCo Ltd. The company is finalising its accounts for the twelvemonth ended downslopeember 31, 2011. The following transactions relating to inventories total around the division end. State, with reason whether these should be include as region of the clients line of descent at Dec 31, 2011 or not. 1. An good point of equipment has been specifically manufacture for a customer as per his requirements. It is complete and is in a segregated part of the warehouse at the screen (separate from the new(prenominal) equipment). The customer has been account on Dec 31 and the percentage point was shipped on January 2, 2012. Currently it has been excluded from your inventory. 2. Raw materials totalling $3,540 were accepted on January 6, 2012. The bribe report was recorded on January 8, 2012 showing that shipment was mutilateed on Dec 29, 2011 F.O.B destination. 3. A large carton containing inventory cost $5,400 was in the shipping room when the physical inventory was taken. However, it was not include in the inventory because it was marked Hold for dispatch instructions. You image that the customers order was dated declination 18, 2011, but that the exemplar was shipped and the customer billed on January 12, 2012. 4. Merchandise costing $880 was received on December 27, 2011.

The notice (which was not recorded) was marked on consignment. 5. Merchandise received on January 6, 2012, costing $900 was entered in the secure journal on January 7, 2012. The invoice showed that the hurt of the transaction were F.O.B. suppliers warehouse. The invoice and dispat! ch date was December 31, 2011. This swop has not been included in inventory because it was not physically on hand. Question 2 Data given below relates to purchases and sales for matchless of the products of Widgets Co Date 1/1 2/4 2/20 4/2 11/4 Transaction pedigree Inventory leverage Sale Purchase Sale Quantity 1,000...If you want to get a full essay, order it on our website: OrderEssay.net

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