17. Lankton Company has the following account balances at ye…

17. Lankton Company has the following account balances at year-end: Sales Discounts                                         $3,200 Accounts Receivable                               $90,000 Allowance for Doubtful Accounts            $4,800 Lankton should report accounts receivable at Net Realizable Value of:

26. Land Grant Company deposits all receipts and makes all p…

26. Land Grant Company deposits all receipts and makes all payments by check. The following information is available from the cash records. For partial credit, show your work. March 31 Bank Reconciliation  Balance per Bank $52,051 Add: Deposits in Transit $5,412 Deduct: Outstanding Checks  ($6,548) Balance per Books $50,915   Month of April Results Per Bank Per Books Balance April 30 $60,399 $62,500 April Deposits $25,486 $28,645 April Checks $24,589 $21,547 April Note Collected (not included in April deposits) $4,629 – April Bank Service Charge  $67 – April NSF Check of a customer returned by the bank (recorded by bank as a charge)  $1,598 – For the April 30 Bank Reconciliation, what are: a. Deposits in Transit:  b. Outstanding Checks: What is the April 30 adjusted cash balance? c. Adjusted Cash Balance: For partial credit, show your work.

8. Dicer Company uses the conventional retail method to dete…

8. Dicer Company uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) was $390,000 ($594,000), purchases during the current year at cost (retail) were $2,055,000 ($3,300,000), freight-in totaled $129,000, sales during the current year totaled $3,000,000, and net markups (markdowns) were $72,000 ($108,000). What is Dicer’s ending inventory value at cost?

QUESTION 27: Use the following information to answer questio…

QUESTION 27: Use the following information to answer questions 27a-c below: Honor Company was formed on December 1, 2019. The following information is available from Honor’s inventory record for Product X. Honor Company uses the perpetual inventory method. Units Unit Cost January 1, 2020 Beg. Inventory 2,000 $20 Purchases: January 5, 2020 2,500 $22 January 25, 2020 2,200 $23 February 16, 2020 1,100 $24 March 15, 2020 2,200 $25 Sales: January 15, 2020 2,500 $40 February 20, 2020  4,000 $40