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W10 Assignment

1. The document discusses inventory costing methods and their impact on reported earnings. First-in, first-out (FIFO) produces a more approximate current value and reduces the ability to manipulate earnings. 2. Selling specific inventory items purchased at specific costs allows a company to minimize or maximize earnings selectively. Minimum earnings results from selling higher-cost units first. Maximum earnings results from selling lower-cost units first. 3. FIFO provides a more realistic valuation of inventory and reduces opportunities for earnings manipulation.

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24 views2 pages

W10 Assignment

1. The document discusses inventory costing methods and their impact on reported earnings. First-in, first-out (FIFO) produces a more approximate current value and reduces the ability to manipulate earnings. 2. Selling specific inventory items purchased at specific costs allows a company to minimize or maximize earnings selectively. Minimum earnings results from selling higher-cost units first. Maximum earnings results from selling lower-cost units first. 3. FIFO provides a more realistic valuation of inventory and reduces opportunities for earnings manipulation.

Uploaded by

김가온
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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chapter #G

1 E 6 -

3 모 E 6 -

& LEWBV

여
) FIFO PerTodTE Systemi 13 MTnolta : 비 150 . 000 X 8

고 nventory balamce Eamam - 1501000 46

$ 31000

53
11 115 w 0 vx 1
socd 23 VruTtar = . □

B 21 n 6 .
V 5 0w0 X 14
Kodak = .

$ 2 . 520

totaul
해 5138 . 60 c =

Tnventovy
12131 $ 2 , 520

Br .
Ioss n Tnwentory Z 3R . 000

: ( ost oA gowdssod =
$ 5 . 70 CV ,
Tnventory 232 . 00 D

b) It ( ould Enoose to Sel speciITc enTts PaVCMaasad a t SIgeCTfc Eogt f


S it wrshe d ta

고 mpact earnings Selectrwely .

minTmTze
⑦
LarnTMgs :

⇒ the Burchagad
sel anrts hTgher
=
ut costs

$ 3 ( O 0U + $ 2M 60 = $
5760
, [
Eogs ]

③
2 maxTm [ze eavniMgS :

⇒ sel the enzes buvcmased on ← lower Eosts

$ 2 . Poo + $ 2 ( 520 =
$ 5 . 280 KOgS ]

C
) FIFO ;

TF Braoduces mare u3 pproBhTate SoFP Waluatran amdreduces t h e oBBortuntty to

manupulate earmrmgs
chapter # 8

1 E & -

4 그 E 8 5 -

3/ B 1/ 2 O 2 고

u ) Sales and Eolectrons :


A ( ouht recervable A
1 lowance

Dr . accounteceTwables & 0w , 0o0 a 5 , 400 2 10 q t lost geaq

다 . sales revenu@ & Do ( 000 ( befure adzastment )

Dv . cash 1 O 3 , 00

EV . acEoant recervableg 17631000


국 ( A ( coant recerabley

b) wrrte
-

wff o tne uncallectable accounts

Pr -

allowance for anEolle( trbles 7 . 300

[ acsount rale ruaubles 7 , 300


r .

모
late ;

cJ * 대손회수시
recowery
,

Dr
] receTvable 은 회수분응으로 왜변으로 보했기
. account recarvable 3 . 100
2 왜문에 LOl 이 받악하고 청리 ]
a 3 total astrmated ancollactzbles :
cr a ( lowanEc for Umcollectrbles 3 , OO
⇒ 번복
.

= XX *

Dv Casn 3 100 2 D2z bad debts Of


.

,
; aSTng receroables
percemt - -

2 ) 대손 충당금 증가 4 ~ '
cr . assount reEervable 31100
[ 회수특등을 위해 모마웠던 된 진째 65

.
6001
400장양압
. . 홀보 "

태손탈생되 준어더 사꺾홈 ] pm

0 . . . 300

. . 0 .
d) [ 데
근거 다헤퇴수했다 ? 회수할 만큼
Bad debt expense for the percod ,
100 .
3 700

ㄹ러시 층덤금으로 적립 :
집으로 올한감 ~
] "
"

llowance tot @ l unco nectables estrmated


$ 8 ( 0 n 5 >

)
a , ooq ☆
begimtng
& a .
zorwr teoffe 3 100 Allowance
. ε
Recowery
bad aabt 2 . OO
expansero
nwo .

for fhe BerTod : bix ( 75


25 . G 0 O

816175

V . bad debt expenge 2012 EO

b)
cr .
allowance 모O
미 ROE
adsustTng entry :

Or . bad debt expense 651 n


,

ex balance alowance
Endcng c다 . 615 n 5

rwablo
Acount rece 0 0
(A llowance = $ 25 . 0tme total balance oA recazvables Increasec from 201 원 to 20200

ooobegrnTng
zoo .

problem ' o acol


der umts tncreased
suBstantzally dunTng 2020

credrt Sales & Oo OOO


[ 90 일 이상 늦은
,

2020 년데 원리래약속기간본라지급밀 30 ( a 1 reEeTvable 금액 증가 ,

763 Owv [ olleceTOm

171 300 wVrte O βf ( urremt reheTvable 은 감소 " )


looRecovary
3 3 IOO casm Collectin ⇒ 돈못받고 계속 밀리고 읽음 .

1 oger to
EB ) $ 22 a . 700 ⇒ ( ustrmevs aretang pay
-
bad debts ure (
rhely fE Tnarease

f) net raalTzable valda f


[ recervable :

gross [1 R I 2a ㆍ3 OO

← Jless : allowamce L 25 . 000 )

: Net 1A / R $ 204 . R 0

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