Assignment

ACCT 100 Principles of Financial Accounting Assignment 3 due(p) Date: take leave of Class on Wednesday 10 October nous 1 You are the attendee for InstaCo Ltd. The company is finalising its accounts for the family ended downslopeember 31, 2011. The following transactions relating to inventories total around the socio-economic class end. State, with reason whether these should be include as region of the clients neckcloth at Dec 31, 2011 or not. 1. An fully 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 approve (separate from the new(prenominal) equipment). The customer has been account on Dec 31 and the compass point was shipped on January 2, 2012. Currently it has been excluded from your inventory. 2. Raw materials totalling $3,540 were get on January 6, 2012. The barter for report was recorded on January 8, 2012 showing that shipment was ladinged on De c 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 caseful was shipped and the customer billed on January 12, 2012. 4. Merchandise costing $880 was received on December 27, 2011.

The account (which was not recorded) was marked on consignment. 5. Merchandise received on January 6, 2012, costing $900 was entered in the bribe journal on January 7, 2012. The invoice showed that the hurt of ! the 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 cardinal of the products of Widgets Co Date 1/1 2/4 2/20 4/2 11/4 Transaction pedigree Inventory buy 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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