Solution-Find the amount of theft loss

Find the amount of theft loss

Assignment Help Accounting Basics

Reference no: EM132571323

Question - An inventory taken the morning after a large theft discloses $60,000 of goods on hand as of March 12. The following additional data is available from the books:

Inventory on hand, March 1 $84,000

Purchases received, March 1 - 11 63,000

Sales (goods delivered to customers) 105,000

Past records indicate that sales are made at 40% above cost.

Find the amount of theft loss? Also, the inventory of goods on hand at the close of March 11th, by the growth profit method?

Reference no: EM132571323

Questions Cloud

Evidence-based practices and collaboration : Create a PowerPoint presentation on the topic of evidence-based practices and collaboration for general education teachers and new special education teachers

Find under equal total payments model for instalment notes : Under the equal total payments model for instalment notes? The note payable is reduced in equal amounts with each payment made

Collaboration with families : Zoe is a second grader with autism spectrum disorders. Zoe's father recently passed away in a tragic car accident. Identify the personal challenges for Zoe;

Principles relating to privacy legislations : Consider the principles relating to privacy legislations. Which of those relate most to the depersonalizing of private information?

Find the amount of theft loss : An inventory taken the morning after a large theft discloses $60,000 of goods on hand as of March 12. Find the amount of theft loss

Describe federalism : Describe federalism. Identify the impact it has on the public safety administrator.

Prepare the journal entries to record the amortizations : Remington Corporation purchases a patent from Durler Company on January 1, 2017, for $84,000. Prepare the journal entries to record the amortizations

Find the payback only for project abc : Find the payback ONLY for project ABC. Round to 2 decimal places. Make the decision based on this criterion and justify your answer.

Manage disciplinary action : What questions could you ask when doing a training needs analysis that would clarify whether staff were appropriately

User Account

All Pages

Find the amount of theft loss

Reference no: EM132571323

Reference no: EM132571323

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT