Cambridge College

The receiving report should be reconciled to the initial purchase order and the vendor’s invoice before recording or paying for inventory purchases

A physical inventory should be taken periodically to test the accuracy of the perpetual records. In addition, a physical inventory will identify inventory shortages or shrinkage

Reporting the sale of Treasury securities as cash flow from operations is an accounting “trick”, and as such, should constitute a possible red flag about the companies accounting practices. For most companies, the gain from a sale of securities should be placed in the financing section. Including the sale of securities in the cash flow from operations would be acceptable for a financial company, such as an investment or commercial bank.

NURSING NUR220 Adv. Med Surg Final Review 2 Exam (elaborations) NURSING NUR220 Adv. Med Surg Final Review 2 Exam (elaborations)

Chapter 11: Cranium, Facial Bones, and Paranasal Sinuses Lampignano: Bontrager’s Textbook of Radiographic Positioning and Related Anatomy, 9th Edition MULTIPLE CHOICE 1. Which of the following bones is part of the floor of the cranium? a. Temporal b. Occipital c. Frontal d. Parietal 2. How many bones make up the facial bone region? a. 6 b. 8 c. 12 d. 14 3. Which bony landmark represents the highest level of the facial bone mass? a. Nasion b. Acanthion c. Orbital pl...

Chapter 01: Terminology, Positioning, and Imaging Principles Lampignano: Bontrager’s Textbook of Radiographic Positioning and Related Anatomy, 9th Edition MULTIPLE CHOICE 1. What type of tissue binds together and supports the various structures of the body? a. Epithelial b. Connective c. Muscular d. Nervous 2. The lowest level of structural organization in the human body is the level. a. molecular b. cellular c. chemical d. atomic 3. What type of tissue covers internal ...

Reagan Corporation is a wholesale distributor of truck replacement parts. Initial amounts taken from Reagan’s records are as follows: Inventory at December 31 (based on a physical count of goods in Reagan’s warehouse on December 31) $1,250,000 Accounts payable at December 31: Additional Information: 1. Parts held by Reagan on consignment from Charlie, amounting to $155,000, were included in the physical count of goods in Reagan’s warehouse and in accounts payable at December 31. 2....

You were recently hired to work in the controller’s office of the Balboa Lumber Company. Your boss, Alfred Eagleton, took you to lunch during your first week and asked a favor. “Things have been a little slow lately, and we need to borrow a little cash to tide us over. Our inventory has been building up and the CFO wants to pledge the inventory as collateral for a short-term loan. But I have a better idea.” Mr. Eagleton went on to describe his plan. “On July 1, 2013, the first day of the...

Question: Ferris Company began 2013 with 6,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January 2013 are as follows: Required: Calculate January’s ending inventory and cost of goods sold for the month using each of the following alternatives: 1. FIFO, periodic system 2. LIFO, periodic system3. LIFO, perpetual system 4. Average cost, periodic system 5. Average cost, perpetual system

If Thomas uses a first-in, first-out perpetual inventory system, the total cost of the inventory for carburetor 2642J at March 31 is a. $196,115 b. $197,488 c. $201,300 d. $263,825