Gato inc. had the following inventory situations to consider at january 31, its year-end.
(a) goods held on consignment for steele corp. since december 12.
(b) goods shipped on consignment to logan holdings inc. on january 5.
(c) goods shipped to a customer, fob destination, on january 29 that are still in transit.
(d) goods shipped to a customer, fob shipping point, on january 29 that are still in transit.
(e) goods purchased fob destination from a supplier on january 25 that are still in transit.
(f) goods purchased fob shipping point from a supplier on january 25 that are still in transit.
(g) office supplies on hand at january 31.
identify which of the preceding items should be included in inventory. if the item should not be included in inventory, state in what account, if any, it should have been recorded.

Four students are at an extracurricular activity fair at their high school and are trying to decide which clubs to join. some information about the students is listed in this chart: which describes which ctso each student should join?

The law firm of furlan and benson accumulates costs associated with individual cases, using a job order cost system. the following transactions occurred during july: jul. 3 charged 175 hours of professional (lawyer) time to the obsidian co. breech of contract suit to prepare for the trial, at a rate of $150 per hour. 10 reimbursed travel costs to employees for depositions related to the obsidian case, $12,500. 14 charged 260 hours of professional time for the obsidian trial at a rate of $185 per hour. 18 received invoice from consultants wadsley and harden for $30,000 for expert testimony related to the obsidian trial. 27 applied office overhead at a rate of $62 per professional hour charged to the obsidian case. 31 paid administrative and support salaries of $28,500 for the month. 31 used office supplies for the month, $4,000. 31 paid professional salaries of $74,350 for the month. 31 billed obsidian $172,500 for successful defense of the case. required: a. provide the journal entries for each of these transactions. refer to the chart of accounts for exact wording of account titles. b. how much office overhead is over- or underapplied? c. determine the gross profit on the obsidian case, assuming that over- or underapplied office overhead is closed monthly to cost of services.

Zowns a disability income policy with a 30-day elimination period. z contracts pneumonia that leaves him unable to work from january 1 until january 15. z then becomes disabled from an accident on february 1 and the disability lasts until july 1 the same year. z will become eligible to receive benefits starting on