Write your answers of the following questions based on our breeding field tours to those programs (9):     Corn breeding Peanut breeding Strawberry breeding 1)      Major objectives (2-3)   2)      Target environment   3)      Breeding methods  

Why general combining ability (GCA) and specific combining ability (SCA) are important for cross pollinated crop variety development? Mention breeding techniques those you will use to understand GCA and SCA in an open pollinated variety development program. The answer should include what type of progeny testing or test cross system you will use. 

Specialty Store uses a perpetual inventory system. The following are some inventory transactions for the month of May: 1. Specialty Store purchased inventory on account for $6,100. Freight charges of $850 were paid in cash. 2. Specialty Store returned some of the inventory purchased in transaction (1). The cost of the inventory was $1,150 and Specialty Store’s account was credited by the supplier. 3. Inventory costing $3,350 was sold for $6,300 in cash. The journal entries to record these transaction would be:

A company that prepares its financial statements according to International Financial Reporting Standards (IFRS) can use each of the following inventory valuation methods except:

Specialty Store uses a periodic inventory system. The following are some inventory transactions for the month of May: 1. Specialty Store purchased  inventory on account for $6,400. Freight charges of $1,000 were paid in cash. 2. Specialty Store returned some of the inventory purchased in transaction (1). The cost of the inventory was $1,300 and Specialty Store’s account was credited by the supplier. 3. Inventory costing $3,500 was sold for $6,600 in cash. The journal entries to record these transactions would be:

On January 1, 2024, Canseco Plumbing Fixtures purchased equipment for $60,000. Residual value at the end of an estimated four-year service life is expected to be $12,000. The company expects the equipment to operate for 20,000 hours. The equipment operated for 3,700 and 4,500 hours in 2024 and 2025, respectively. The depreciation expense for 2024 and 2025 using double-declining-balance method is:

For companies using a cost method other than LIFO or the retail inventory method, inventory is reported at:

Kerry, Incorporated, exchanged land and cash of $8,400 for equipment. The land had a book value of $59,000 and a fair value of $64,400. Assume the exchange has commercial substance. The journal entry to record the exchange would be:

If a company uses LIFO, a LIFO liquidation causes a company’s income taxes to increase:

Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available at the end of the year: Cost Retail Beginning inventory $ 400,000 $ 535,000 Net purchases 905,000 1,310,000 Freight-in 45,000   Net markups   58,000 Net markdowns   28,000 Net sales   1,250,000 Estimate ending inventory and cost of goods sold (average cost).