User Account

All Pages

What is the Estimate the amount of loss due to theft

Assignment Help Accounting Basics
Reference no: EM132515740

Question - On April 16, it was discovered that a material amount of inventory had been stolen. A physical count shows that $30,000 of merchandise was on hand as of April 16. The following additional data is available from the accounting records:

Inventory, January 1 $32,000

Purchases, January 1 - April 16 (includes $2,000 shipped

FOB shipping point April 14, received April 18) 57,000

Sales (goods delivered to customers), January 1 - April 16 45,000

Records indicate that the company's gross profit has averaged 40 percent of selling prices. What is the Estimate the amount of loss due to theft?

Reference no: EM132515740

Questions Cloud

Find the product at a maximum total cost of : To achieve its normal minimum profit margin of 25 percent, Electronics must be able to produce the product at a maximum total cost of
Big data analytics : How Big Data analytics can be used with Smart Cities. This is exciting and can provide many benefits to individuals as well as organizations.
Discuss the goals for disease presented in healthy people : Discuss the goals for this disease presented in Healthy People 2020. To support your work, use your course and text readings and also use resources.
How would the coefficients and value be interpreted : What will the quantity demanded be if the values of the independent variables? How would the coefficients and value be interpreted
What is the Estimate the amount of loss due to theft : Records indicate that the company's gross profit has averaged 40 percent of selling prices. What is the Estimate the amount of loss due to theft
Describe the concepts of epidemiology and nursing research : Write a paper (2,000-2,500 words) in which you apply the concepts of epidemiology and nursing research to a communicable disease.
Prepare the appropriate entries for Anything Grows : Prepare the appropriate entries for Anything Grows and Mid-South on September 29, 2023, assuming the purchase option was exercised on that date
Database management plan : Create a entry in your Database Management Plan. List the benefits of data administration compared to database administration.
Describe your problem statement and outline your argument : Briefly describe your problem statement and outline your argument to justify the need for change. In developing your arguments for justification of need.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd