Tasks to Learn Still for FAR

Question 1

Calculate COGS with all the nuances

Question 2

Calc Retained Earnings w/ups, downs, nuances

WHICH TBS HELPS?

Question 3

Analysis Worksheet of Changes in Stockholders’ Equity
WHICH TBS HELPS?
TBS-002226
TBS-036006

Question 4

Put together a Statement of Comprehensive Income
WHICH TBS HELPS?

Question 5

Put together an OCI Statement
WHICH TBS HELPS

Question 7

Adjust things to fair value and know which type of things should be adjusted tbs in far m1

Question 8

Carrrying amount. All methods and sub methods

Question 9

dollar-value lifo get quick

FAR2C007n

On December 31 of year 1, Kim Co. adopted dollar value LIFO. All of Kim’s inventories are in a single pool and have a year-end value of $50,000. At the end of year 2, Kim’s inventory balance at current year prices is $100,000, with a price index of 1.25.

Under dollar-value LIFO, Kim’s inventory balance at the end of year 2 would be?

Answer 9

The first step is to convert the year 2 balance back to base-year prices using the 1.25 index: $100,000 / 1.25 = $80,000.

That means the ending inventory of $100,000 consists of a base year layer of $50,000 (the year-1 ending balance), and an incremental layer of $30,000 ($80,000 – $50,000).

Then, the incremental layer needs to be adjusted to current-year prices, using the price index of 1.25: $30,000 x 1.25 = $37,500.

So the year-2 ending inventory using dollar-value LIFO is $50,000 + $37,500 = $87,500.

Question 10

Dividends per class

Question 11

Know the structure of 10q and k

Question 12

Weighted average investment tory