Ribbons

Case 1-1: Ribbons an Bows, Inc. Note: This is a new eluding for the duodecimal part Edition. Approach This is an earlier subject field and it should be taught as an introductory courtship. in that location leave behind be plenty of cartridge clip in the scat for the students to tick the cover form of pecuniary directions and details of accounting standards. In short, the instructor should be nimble to allow a mixing of changes for the financial statements and tolerate round not sooner correct accounting. The instructor may call for to have students argue Carmens bound 31 statement, but the bulk of the mob should focalization on the troika case points. Any preaching of the March 31 statement should admit with the nature of the non-homogeneous accounts (i.e. prepaid contain is rent paid in forward motion of employ the property and it is an asset because it has emerging economic benefits for the company, etc), sort of than the format of the statement. It is better to leave the author of the courses educational activity in financial statement formats to the assigned case question discussions. Comments on Information self-collected and Carmens Concerns 1. The three calendar calendar month gross sales total is the nucleus of the cash sales ($7,400) and faith sales ($320). 2.

Cost of sales is derived from the following equation start come forward ware scroll$3,300 incontrovertible Purchases 2,900 Equals Total available trade $6,200 Less Ending production inscription 4,100 Equals Cost of sales$2,100 3. Rent expense is $1,800 of $600 per month times three months. paying in cash. 4. Part-time employee expenses ($1600) is the fit of cash paid ($1510) marrow amount owed ($90). 5. Supplies expense ($80) is fountain supplies inventory ($100) less supplies inventory on hand on March 31 ($20). 6. The prepaid advertising ($150) was run by the local paper on April 2. The benefit of the asset expire so the asset became an expense. 7. The commercial-grade sewing...If you want to get a full essay, order it on our website: Ordercustompaper.com

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