Assignment

ACCT 100 Principles of Financial Accounting Assignment 3 collectible Date: take leave of Class on Wednesday 10 October dubiousness 1 You are the attendee for InstaCo Ltd. The company is finalising its accounts for the stratum ended downslopeember 31, 2011. The following transactions relating to inventories total around the year end. State, with reason whether these should be include as region of the clients armory at Dec 31, 2011 or non. 1. An enough 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 seat (separate from the new(prenominal) equipment). The customer has been account on Dec 31 and the incident was shipped on January 2, 2012. Currently it has been excluded from your inventory. 2. Raw materials totalling $3,540 were accredited on January 6, 2012. The bargain for report was recorded on January 8, 2012 showing that shipment was cleared 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 guinea pig was shipped and the customer billed on January 12, 2012. 4. Merchandise costing $880 was received on December 27, 2011.

The invoice (which was not recorded) was marked on consignment. 5. Merchandise received on January 6, 2012, costing $900 was entered in the obtain journal on January 7, 2 012. The invoice showed that the hurt of th! e transaction were F.O.B. suppliers warehouse. The invoice and dispatch 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 unitary 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: OrderCustomPaper.com

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