Homework Answers
Answer
- Working and calculation
|
Net Sales |
$750,500 |
|
|
Gross Profit (25%) |
$187,625 |
|
|
Cost of Goods Sold |
$562,875 |
[A] |
|
Inventory Jan 1 |
$137,600 |
|
|
Purchases |
$506,800 |
|
|
Cost of Goods available for sale |
$644,400 |
[B] |
|
Estimated Inventory destroyed in Fire |
$81,525 |
[C = B - A] |
- Estimated Inventory destroyed In fire = $ 81,525
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--/1 Question 6 View Policies Current Attempt in Progress Tamarisk Corporation's April 30 inventory was destroyed...
Current Altempt in Progress" Windsor Corporation's April 30 inventory was destroyed by fire. January 1 inventory...
Current Altempt in Progress" Windsor Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $154,200, and purchases for January through April totaled $525,400. Sales revenue for the same period was $687,900. Windsor's normal gross profit percentage is 30% on sales. Using the gross profit method, estimate Windsor's April 30 inventory that was destroyed by fire. $ Estimated ending inventory destroyed in fire
Windsor Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $154,200, and purchases...
Windsor Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $154,200, and purchases for January through April totaled $525,400. Sales revenue for the same period was $687,900. Windsor's normal gross profit percentage is 30% on sales. Using the gross profit method, estimate Windsor's April 30 inventory that was destroyed by fire. Estimated ending inventory destroyed in fire $
Blue Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $155,000, and purchases...
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Coronado Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $157,000, and purchases...
Coronado Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $157,000, and purchases for January through April totaled $502,900. Sales revenue for the same period was $649,300. Coronado's normal gross profit percentage is 35% on sales. Using the gross profit method, estimate Coronado's April 30 inventory that was destroyed by fire. Estimated ending inventory destroyed in fire $
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Vaughn Corporation’s April 30 inventory was destroyed by fire. January 1 inventory was $138,300, and purchases...
Vaughn Corporation’s April 30 inventory was destroyed by fire. January 1 inventory was $138,300, and purchases for January through April totaled $492,100. Sales revenue for the same period was $698,900. Vaughn’s normal gross profit percentage is 35% on sales. Using the gross profit method, estimate Vaughn’s April 30 inventory that was destroyed by fire. Estimated ending inventory destroyed in fire
Question 6 View Policies Current Attempt in Progress The inventory of Sandhill Co. was destroyed by...
Question 6 View Policies Current Attempt in Progress The inventory of Sandhill Co. was destroyed by fire on June 1. From an examination of the accounting records, the following data for the first five months of the year were obtained: Sales 594,000; Sales Returns and Allowances $1,500: Sales Discounts $1.000: Freight Out $2.500, Parches 552.000 52.00 Returns and Allowances $2,700; and Purchase Discounts $1,300. Determine the inventory lost by fire, assuming a beginning inventory of $25,400 and a gross profit...
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Question 7 of 15 > > - 71 !!! View Policies Current Attempt in Progress Tamarisk Corporation earned net income of $443,400 in 2020 and had 110,000 shares of common stock outstanding throughout the year. Also outstanding all year was $700,000 of 5% bonds, which are convertible into 15,000 shares of common. Tamarisk's tax rate is 30 percent. Compute Tamarisk's 2020 diluted earnings per share. (Round answer to 2 decimal places, eg. 3.55.) Diluted earnings per share $ ta
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Blue Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $155,000, and purchases for January through April totaled $467,300. Sales revenue for the same period was $684,500. Blue's normal gross profit percentage is 25% on sales. Using the gross profit method, estimate Blue's April 30 inventory that was destroyed by fire. Estimated ending inventory destroyed in fire $
Coronado Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $157,000, and purchases for January through April totaled $502,900. Sales revenue for the same period was $649,300. Coronado's normal gross profit percentage is 35% on sales. Using the gross profit method, estimate Coronado's April 30 inventory that was destroyed by fire. Estimated ending inventory destroyed in fire $
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Splish Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $155,200, and purchases for January through April totaled $475,500. Sales revenue for the same period was $655,200. Splish's normal gross profit percentage is 35% on sales. Using the gross profit method, estimate Splish's April 30 inventory that was destroyed by fire. Estimated ending inventory destroyed in fire Click if you would like to Show Work for this question: Open Show Work
Question 6 View Policies Current Attempt in Progress The inventory of Sandhill Co. was destroyed by fire on June 1. From an examination of the accounting records, the following data for the first five months of the year were obtained: Sales 594,000; Sales Returns and Allowances $1,500: Sales Discounts $1.000: Freight Out $2.500, Parches 552.000 52.00 Returns and Allowances $2,700; and Purchase Discounts $1,300. Determine the inventory lost by fire, assuming a beginning inventory of $25,400 and a gross profit...
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