User Account

All Pages

What estimated ending inventory destroyed by fire is

Assignment Help Accounting Basics
Reference no: EM132836435

The following information is available for October for Jordan Company:

beginning inventory: 70,000

purchases: 275,000

purchase returns: 15,000

sales: 500,000

sales returns: 7,000

percentage markup on cost: 70%

Problem 1: A fire destroyed most of Jordan's October 31 inventory warehouse, leaving undamaged inventory with a cost of $3,000. Using the gross profit method, the estimated ending inventory destroyed by fire is:

Select one:

a. $52,000

b. $41,118

c. $40,000

d. $37,000

e. $82,000

Reference no: EM132836435

Questions Cloud

What oxford journal entry to record service revenue will : What Oxford's journal entry on 1/1/15 to record service revenue will include? Oxford Company finished consultation services and accepted in exchange
What obstacle must be overcome for effective decision making : What obstacles must be overcome for effective decision making? What specific strategies can be used to promote a climate in which critical thinking is fostered?
Describe the stages of the purchase decision : What are possible psychological and sociological influences on the consumer purchase decision process?
What do recommend about raphael and martina : What do you recommend? Raphael and Martina are engaged and are planning to travel to Las Vegas during the 2018 Christmas
What estimated ending inventory destroyed by fire is : October 31 inventory warehouse, leaving undamaged inventory with a cost of $3,000. Using the gross profit method, estimated ending inventory destroyed by fire?
What outbreaks are currently being address in virginia state : Go to HealthMap. Read through the website and watch the cartoon video titled, "What is HealthMap?" View HealthMap. Write a 2-page paper expressing how you.
Discuss the role of data and data management solutions : Discuss the role of data and data management solutions in organizational decision making
What change in the amount of operating assets is required : If both sales and expenses cannot be changed, what change in the amount of operating assets is required to achieve the same result?
Cyber terrorism is considered terrorism activity : Cyber terrorism is considered as terrorism activity in which attackers attack on the properties and affect computer, information by taking support of internet

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: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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