Posted: July 12th, 2016
The accounting records of Dolphin Company revealed the following information:
Total Manufacturing Costs….. $530,000
Work-In-Process Inventory, Jan 1 ….. $56,000
Work-In-Process Inventory, Dec 31 ….. $78,000
Finished-Goods Inventory, Jan 1 ….. $146,000
Finished-Goods Inventory, Dec 31 ….. $123,000
Dolphin’s cost of goods sold is:
E. some other amount.
Food to Go Delivery Service disposed of one of their delivery cars after using the car for 2 years. The records of the company provide the following informatiom:
Delivery car cost ,000
Accumulated depreciation $10,000
Calculate the gain or loss on the disposal of the car for each of the following independent situations:
A. Food to Go sold the car to another company for $22,000
B. Food to go sold the car to another company for $17,000
C. The car was stolen from the parking lot and no insurance was carried on it for theft.
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