8. Explain the liability of bailees for lost damaged, or destroyed goods?
8. Explain the liability of bailees for lost damaged, or destroyed goods?
Homework Answers
When the bailor proves that the bailee's failure for goods return in the appropriate condition, the burden of going forward with evidence to explain the damage or loss falls upon the bailee. In case the bailee fails to explain how the damage or disappearance occurred, in that case the judgment will be for the bailor. When bailee produce such evidence (but the ultimate burden of proof will return to the bailor) then in that case the bailor will bear the burden of proving that the loss occurred through the bailee's negligence, and the bailee will be entitled to an instruction by jury to that effect. Thus the damaged, lost, or stolen – no responsibility on the part of bailee when they acted as according to the terms of the bailment
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8. Explain the liability of bailees for lost damaged, or
destroyed goods?
A substantial portion of inventory owned by Prentiss Sporting Goods was recently destroyed when the roof...
A substantial portion of inventory owned by Prentiss Sporting Goods was recently destroyed when the roof collapsed during a rainstorm. Prentiss also lost some of its accounting records. Prentiss must estimate the loss from the storm for insurance reporting and financial statement purposes. Prentiss uses the periodic inventory system. The following accounting information was recovered from the damaged records: Beginning inventory Purchases to date of storm Sales to date of storm $202,900 396,100 595,100 The value of undamaged inventory counted...
A substantial portion of inventory owned by Prentiss Sporting Goods was recently destroyed when the roof...
A substantial portion of inventory owned by Prentiss Sporting Goods was recently destroyed when the roof collapsed during a rainstorm. Prentiss also lost some of its accounting records. Prentiss must estimate the loss from the storm for insurance reporting and financial statement purposes. Prentiss uses the periodic inventory system. The following accounting information was recovered from the damaged records: $197,400 101 600 Beginning inventory Purchases to date of storm Sales to date of storm 598,900 The value of undamaged inventory...
A substantial portion of inventory owned by Prentiss Sporting Goods was recently destroyed when the roof...
A substantial portion of inventory owned by Prentiss Sporting Goods was recently destroyed when the roof collapsed during a rainstorm. Prentiss also lost some of its accounting records. Prentiss must estimate the loss from the storm for insurance reporting and financial statement purposes. Prentiss uses the periodic inventory system. The following accounting information was recovered from the damaged records: Beginning inventory Purchases to date of storm Sales to date of storm $198,900 400,300 599,800 The value of undamaged inventory counted...
Crane Legler requires an estimate of the cost of goods lost by fire on March 9....
Crane Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $31,160. Purchases since January 1 were $59,040; freight-in, $2,788; purchase returns and allowances, $1,968. Sales are made at 33 1/3% above cost and totaled $87,000 to March 9. Goods costing $8,938 were left undamaged by the fire; remaining goods were destroyed. Compute the cost of goods destroyed. (Round gross profit percentage and final answer to 0 decimal...
Discussions Crane Legler requires an estimate of the cost of goods lost Conferences by fire on...
Discussions Crane Legler requires an estimate of the cost of goods lost Conferences by fire on March 9. Merchandise on hand on January 1 was $31,160. Purchases since January 1 were $59,040; freight- in, $2,788; purchase returns and allowances, $1,968. Sales are made at 331/3% above cost and totaled $87,000 to Collaborations WileyPLUS Support March 9. Goods costing $8,938 were left undamaged by the fire; remaining goods were destroyed. Compute the cost of goods destroyed. (Round gross profit percentage and...
Sheridan Legler requires an estimate of the cost of goods lost by fire on March 9....
Sheridan Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $44,080. Purchases since January 1 were $83,520; freight-in, $3,944; purchase returns and allowances, $2,784. Sales are made at 33 1/3% above cost and totaled $135,000 to March 9. Goods costing $12,644 were left undamaged by the fire; remaining goods were destroyed. Compute the cost of goods destroyed. (Round gross profit percentage and final answer to 0 decimal...
Carla Vista Legler requires an estimate of the cost of goods lost by fire on March...
Carla Vista Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $45,600. Purchases since January 1 were $86,400; freight-in, $4,080; purchase returns and allowances, $2,880. Sales are made at 33 1/3% above cost and totaled $141,000 to March 9. Goods costing $13,080 were left undamaged by the fire; remaining goods were destroyed. a) Compute the cost of goods destroyed. b) Compute the cost of goods destroyed, assuming...
urrent Attempt in Progress Crane Legler requires an estimate of the cost of goods lost by...
urrent Attempt in Progress Crane Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $40,280. Purchases since January 1 were $76,320;freight-in, $3,604; purchase returns and allowances, $2,544. Sales are made at 33 1/3% above cost and totaled $120,000 to March 9. Goods costing $11,554 were left undamaged by the fire; remaining goods were destroyed. Compute the cost of goods destroyed. (Round gross profit percentage and final answer...
Exercise 9-15 Sunland Legler requires an estimate of the cost of goods lost by fire on...
Exercise 9-15 Sunland Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $44,840. Purchases since January 1 were $84,960; freight-in, $4,012; purchase returns and allowances, $2,832. Sales are made at 33 1/3% above cost and totaled $138,000 to March 9. Goods costing $12,862 were left undamaged by the fire; remaining goods were destroyed. Compute the cost of goods destroyed. (Round gross profit percentage and final answer to...
Exercise 9-15 Pharoah Legler requires an estimate of the cost of goods lost by fire on...
Exercise 9-15 Pharoah Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $34,200. Purchases since January 1 were $64,800; freight-in, $3,060; purchase returns and allowances, $2,160. Sales are made at 33 1/3% above cost and totaled $99,000 to March 9. Goods costing $9,810 were left undamaged by the fire; remaining goods were destroyed. Compute the cost of goods destroyed. (Round gross profit percentage and final answer to...
A substantial portion of inventory owned by Prentiss Sporting Goods was recently destroyed when the roof collapsed during a rainstorm. Prentiss also lost some of its accounting records. Prentiss must estimate the loss from the storm for insurance reporting and financial statement purposes. Prentiss uses the periodic inventory system. The following accounting information was recovered from the damaged records: Beginning inventory Purchases to date of storm Sales to date of storm $202,900 396,100 595,100 The value of undamaged inventory counted...
A substantial portion of inventory owned by Prentiss Sporting Goods was recently destroyed when the roof collapsed during a rainstorm. Prentiss also lost some of its accounting records. Prentiss must estimate the loss from the storm for insurance reporting and financial statement purposes. Prentiss uses the periodic inventory system. The following accounting information was recovered from the damaged records: $197,400 101 600 Beginning inventory Purchases to date of storm Sales to date of storm 598,900 The value of undamaged inventory...
A substantial portion of inventory owned by Prentiss Sporting Goods was recently destroyed when the roof collapsed during a rainstorm. Prentiss also lost some of its accounting records. Prentiss must estimate the loss from the storm for insurance reporting and financial statement purposes. Prentiss uses the periodic inventory system. The following accounting information was recovered from the damaged records: Beginning inventory Purchases to date of storm Sales to date of storm $198,900 400,300 599,800 The value of undamaged inventory counted...
Crane Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $31,160. Purchases since January 1 were $59,040; freight-in, $2,788; purchase returns and allowances, $1,968. Sales are made at 33 1/3% above cost and totaled $87,000 to March 9. Goods costing $8,938 were left undamaged by the fire; remaining goods were destroyed. Compute the cost of goods destroyed. (Round gross profit percentage and final answer to 0 decimal...
Discussions Crane Legler requires an estimate of the cost of goods lost Conferences by fire on March 9. Merchandise on hand on January 1 was $31,160. Purchases since January 1 were $59,040; freight- in, $2,788; purchase returns and allowances, $1,968. Sales are made at 331/3% above cost and totaled $87,000 to Collaborations WileyPLUS Support March 9. Goods costing $8,938 were left undamaged by the fire; remaining goods were destroyed. Compute the cost of goods destroyed. (Round gross profit percentage and...
urrent Attempt in Progress Crane Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $40,280. Purchases since January 1 were $76,320;freight-in, $3,604; purchase returns and allowances, $2,544. Sales are made at 33 1/3% above cost and totaled $120,000 to March 9. Goods costing $11,554 were left undamaged by the fire; remaining goods were destroyed. Compute the cost of goods destroyed. (Round gross profit percentage and final answer...
Exercise 9-15 Sunland Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $44,840. Purchases since January 1 were $84,960; freight-in, $4,012; purchase returns and allowances, $2,832. Sales are made at 33 1/3% above cost and totaled $138,000 to March 9. Goods costing $12,862 were left undamaged by the fire; remaining goods were destroyed. Compute the cost of goods destroyed. (Round gross profit percentage and final answer to...
Exercise 9-15 Pharoah Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $34,200. Purchases since January 1 were $64,800; freight-in, $3,060; purchase returns and allowances, $2,160. Sales are made at 33 1/3% above cost and totaled $99,000 to March 9. Goods costing $9,810 were left undamaged by the fire; remaining goods were destroyed. Compute the cost of goods destroyed. (Round gross profit percentage and final answer to...
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