Purchase Solution

ACC 403 Module 2 SLP 2 Correction to sales and to inventory

Not what you're looking for?

Ask Custom Question

One client had indicated that they were interested in purchasing $35,500 worth of products, so the bookkeeper recorded the transaction. However, the client has not actually committed to the purchase.

The bookkeeper may have made a mistake when computing cost of goods sold. She included total production costs for 2012 and did not adjust ending inventory for the $35,500 worth of units left at the end of the year. The amount of ending inventory was determined using a physical count.

Attachments
Purchase this Solution
Solution Summary

Your tutorial and income statement is attached. The two adjustments are discussed.

Solution Preview

Your tutorial and income statement is attached. The two adjustments are ...

Solution provided by:
Carol Sargent, PhD
Education
  • BSc, University of Virginia
  • MSc, University of Virginia
  • PhD, Georgia State University
Recent Feedback
  • "hey just wanted to know if you used 0% for the risk free rate and if you didn't if you could adjust it please and thank you "
  • "Thank, this is more clear to me now."
  • "Awesome job! "
  • "ty"
  • "Great Analysis, thank you so much"
Purchase this Solution
Free BrainMass Quizzes
Change and Resistance within Organizations

This quiz intended to help students understand change and resistance in organizations

Transformational Leadership

This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.

Basics of corporate finance

These questions will test you on your knowledge of finance.

Situational Leadership

This quiz will help you better understand Situational Leadership and its theories.

Social Media: Pinterest

This quiz introduces basic concepts of Pinterest social media

View More Free Quizzes
Related BrainMass Solutions

  • Trial Balance: Costa Company.

    The module 2 background information has a very simple example, which may be helpful.

  • Inventory Management at Amazon.com

    Module 1 - SLP Inventory Management The Session Long Project is not a term paper due at the end of the course. Rather, the SLP acts as a vehicle to give the topics of each module a personal, concrete expression.

  • The strategic management process for Kraft foods

    in Modules 2 and 3) with the four generic business strategies discussed in this module.

  • PDA Simulation #4

    INTRODUCTION This was our third and final run of the PDA simulation using the strategy devised from our module three SLP results.

  • Financing options for financing mergers and acquisitions

    Write a 2- to 3-page paper answering the following questions: 1) If you were to pick one company for your SLP company to merge with, what would it be?

  • Auditing Property, Plant and Equipment and Proper Cut-off of Purchases

    An accurate way to ensure a cutoff of sales is accurate must include (1.) The final shipping document number must be recorded for follow ups to sales records. (2.)

  • 4PLs "virtual" Logistics Service Providers, Dell

    As noted in the instructions for the Module 1 SLP page, the SLP consists of two activities: (1) an assessment phase that describes how the module topic applies to your Case study organization's logistics operations, and (2) an improvement phase that asks

  • Bank Of America's mission and strategy

    ¢ Comment briefly on the relationships of the process objectives that you've identified here to the finance objectives that you identified in the Module 1 SLP assignment and/or the customer service objectives that you identified in the Module 2 SLP assignment

  • CVP simulation

    Pricing - Manual, b) Module Price - $0.13, c) Revenue to Process Improvement - 5%, d) Years to Advance - 5 years Both SLP 2 and SLP 3 have same inputs except the entry of new entrants.

View More Related Solutions