User Account

All Pages

What is the cost of the merchandise destroyed by fire

Assignment Help Accounting Basics
Reference no: EM132749508

Question: The CEBU BRANCH of MOCHI Company is billed for merchandise by the home office at 20 percent (20%) above cost. The branch in turn prices merchandise for sale purposes at 25 percent (25%) above billed price.

On January 25 all of the branch merchandise is destroyed by fire. No insurance was maintained. Branch accounts show the following information:

Inventory, Jan 1, 173,000

Sales Returns, 30,000

Shipments from Home Office (Jan 1-25), 200,000

Sales Discounts, 30,000

Sales 350,000.

What is the cost of the merchandise destroyed by fire?

Reference no: EM132749508

Questions Cloud

What would you look for as a red flag : In the expenditure cycle, what would you look for as a red flag or potential indicator that a vendor is short supplying you? The response must be typed.
Record the treasury stock transactions : Record the treasury stock transactions (given above) under the cost method. (Credit account titles are automatically indented when amount is entered.
Should ligaya management proceed with capital structure : LIGAYA, which has no current debt, has a beta of 0.95 for its ordinary shares. Management is considering a change in the capital structure to 30 percent debt.
What is the required rate of return for a firm : What is the required rate of return for a firm with a beta of 1.35 when market return premium is 14% and the risk free rate is 5%.
What is the cost of the merchandise destroyed by fire : The CEBU BRANCH of MOCHI Company is billed for merchandise by the home office at 20 percent (20%) above cost. The branch in turn prices merchandise for sale.
What is the amount of his basis in the equipment received : Franco owns a 60% interest in the Dulera LLC. On December 31 of the current tax year, his basis in the LLC interest is $274,400. The fair market value of the.
How should the lease be classified by branch motors : Calculate the amount Yard Art Landscaping would record as a right-of-use asset and a lease liability. How should this lease be classified by Branch Motors?
Prepare journal entry to record the warranty repairs : On December 20, 2017, The Net Department Store sold a computer for $3,500 with a one-year warranty that covers parts and labour. Warranty expense was estimated.
How statements are formed by strategic management process : Read "The significance of vision and mission development for enterprises in Slovak Republic." Consider how these statements are formed by the strategic.

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