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1、6-19AccountingandtheTimeValueofMoneyMULTIPLECHOICE—CPAAdapted134.Howshouldthefollowingcostsaffectaretailer'sinventoryvaluation?Freight-inInterestonInventoryLoana.IncreaseNoeffectb.IncreaseIncreasec.NoeffectIncreased.NoeffectNoeffect135.ThefollowinginformationappliedtoHowe,Inc.for
2、2010:Merchandisepurchasedforresale$300,000Freight-in8,000Freight-out5,000Purchasereturns2,000Howe's2010inventoriablecostwasa.$300,000.b.$303,000.c.$306,000.d.$311,000.136.Thefollowinginformationwasderivedfromthe2010accountingrecordsofPerezCo.:Perez'sGoodsPerez'sCentralWarehouseHe
3、ldbyConsigneesBeginninginventory$130,000$14,000Purchases575,00070,000Freight-in10,000Transportationtoconsignees5,000Freight-out30,0008,000Endinginventory145,00020,0006-19AccountingandtheTimeValueofMoneyPerez's2010costofsaleswasa.$570,000.b.$600,000.c.$634,000.d.$639,000.137.DoleC
4、orp.'saccountspayableatDecember31,2010,totaled$800,000beforeanynecessaryyear-endadjustmentsrelatingtothefollowingtransactions:·OnDecember27,2010,Dolewroteandrecordedcheckstocreditorstotaling$350,000causinganoverdraftof$100,000inDole'sbankaccountatDecember31,2010.Thechecksweremail
5、edoutonJanuary10,2011.·OnDecember28,2010,Dolepurchasedandreceivedgoodsfor$150,000,terms2/10,n/30.Dolerecordspurchasesandaccountspayableatnetamounts.TheinvoicewasrecordedandpaidJanuary3,2011.·Goodsshippedf.o.b.destinationonDecember20,2010fromavendortoDolewerereceivedJanuary2,2011.
6、Theinvoicecostwas$65,000.AtDecember31,2010,whatamountshouldDolereportastotalaccountspayable?a.$1,362,000.b.$1,297,000.c.$1,050,000.d.$950,000.138.ThebalanceinMoonCo.'saccountspayableaccountatDecember31,2010was$700,000beforeanynecessaryyear-endadjustmentsrelatingtothefollowing:·Go
7、odswereintransittoMoonfromavendoronDecember31,2010.Theinvoicecostwas$40,000.Thegoodswereshippedf.o.b.shippingpointonDecember29,2010andwerereceivedonJanuary4,2011.·Goodsshippedf.o.b.destinationonDecember21,2010fromavendortoMoonwerereceivedonJanuary6,2011.Theinvoicecostwas$25,000.·
8、OnDecember27,2010,Moonwroteandrecordedch
