1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
GuDViN [60]
2 years ago
5

Oriole Company lost most of its inventory in a fire in December just before the year-end physical inventory was taken. The corpo

ration’s books disclosed the following. Beginning inventory $173,200 Sales revenue $672,900 Purchases for the year 424,200 Sales returns 24,600 Purchase returns 28,000 Rate of gross profit on net sales 30 % Merchandise with a selling price of $21,000 remained undamaged after the fire. Damaged merchandise with an original selling price of $16,100 had a net realizable value of $5,700. Compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage.
Business
1 answer:
Sergio039 [100]2 years ago
7 0

Answer:$95,190

Explanation:. $

Opening stock. . 1 73,200

Add purchase less return

(424200-28,000). 396,200

------------

569400

Less cost of goods sold

Salers- return * 70/100

(672900-24600)*70/100=. (453,810)

-----------

Stock balance. 115,590

Less stock salvage

21000*70/100 (14,700)

Damaged realisable value ( 5700)

--------

Stock damaged by fire

95,190

You might be interested in
A stock has had returns of 12 percent, 19 percent, 21 percent, −12 percent, 26 percent, and −5 percent over the last six years.
11111nata11111 [884]

Answer:

Average rate of return= 10.17 %

Geometric return = 9.23%

Explanation:

<em>Geometric average return</em>

This is compounded annual rate of return which is used to measure the performance of an asset over a certain number of years. It helps to measure the return generated by an investment taking into account the volatility .

Unlike the arithmetic average the geometric average gives an idea of the real rate taking into account of volatility

The formula below

Geometric Return =(1+r1) (1+r2) ...... (1+rn)^1/n

Geometric Average return =  

(1.12× 1.19× 1.21× 0.88× 1.26× 0.95)^(1/6) - 1 =0.09233168

Geometric return =0.0923 × 100= 9.23%

Geometric return = 9.23%

Average rate of return

<em>The average return is the sum of the returns over the years dividend by the Numbers of returns</em>

Average return = sum of return / No of returns

(12% + 19% + 21% + (12%) + 26% + (5%))/6 =10.17 %

Average rate of return= 10.17 %

Geometric return = 9.23%

4 0
3 years ago
The bond has a 12% annual coupon rate, a $1,000 par value, it matures in 15 years and pays coupon quarterly. The current bond pr
Vladimir79 [104]

Answer:

A. 14.28%

Explanation:

As per Approximation formula,

Quarterly yield = (A + B / C) * 100

A = Quarterly coupon = 12% of 1,000 / 4 =30

B = (Redemption - Price value / Number of coupon) = (1,000 - 900) / (15 * 4)

= 1.667

C= (Redemption value + Price / 2) = 1,000 + 900 / 2 = 1,900 /2 =  950

Quarterly yield = 30 + 1.66667 / 950 = 31.6667 / 950 = 0.03333

Quarterly yield = 3.33%

Using the calculator, we get exact Ytm quarterly = 3.3925%

Effective amount yield = {(1 + 0.033925)^4 - 1} * 100

Effective amount yield = 0.142762 * 100

Effective amount yield = 14.2762%

Effective amount yield = 14.28%

4 0
3 years ago
Other things being equal, an increase in the number of sellers of a good will _____ for that good.
Ahat [919]

Answer:

The correct answer is letter "C": decrease equilibrium price and increase equilibrium quantity .

Explanation:

An increase in the number of sellers in a market of a certain good implies the quantity demanded for that good will increase, thus the equilibrium quantity will be higher. According to the demand law, if the quantity demanded goes up, the price is likely to decrease, so, the equilibrium price will be lower.

Thus, <em>the increase in sellers will raise the equilibrium quantity decreasing the equilibrium price.</em>

5 0
3 years ago
Jorge martinez hates to do performance appraisals of his subordinates because he always struggles when he has to evaluate their
frosja888 [35]

Jorge should provide feedback from all around the employee.

4 0
3 years ago
Read 2 more answers
A homeowner fears the construction of a factory nearby will decrease the value of her property. this illustrates the principle o
Mama L [17]

A homeowner fears the construction of a factory nearby will decrease the value of her property. this illustrates the principle of externalities.

Many people are unaware that there are tax advantages for home owners when they purchase, own, remodel and even sell their property. These advantages take the form of tax deductions, which lower your taxable income and hence lower your tax payment.

However, you might be astonished to hear that even though the house was bought with a mortgage, you still own it. As the homeowner, your name is listed on the title. The lender does not actually own your home; rather, they only have a stake in the property and the mortgage note.

According to the Federal Reserve's 2020 Survey of Consumer Finances, if you own your home, you probably have a higher value than someone who rents. The assumption that owning a home is a wise financial decision is supported by the fact that homeowners have a net worth that is more than 40 times bigger than their counterparts who rent.

Learn more about homeowners here:

brainly.com/question/23428348

#SPJ4

4 0
1 year ago
Other questions:
  • Sally has seen such great interest in her scented candles that she has decided to start her own small business selling them. Sal
    15·1 answer
  • What three activities are typically involved in the production planning process
    9·2 answers
  • The Utah Mining Corporation is set to open a gold mine near Provo, Utah. According to the treasurer, Monty Goldstein, "This is a
    15·1 answer
  • Which of the following correctly defines money as a unit of account?
    7·1 answer
  • A trial balance is a(n) (list/balance/chart) ___ of accounts and their balances at a point in time and is used to confirm that t
    10·1 answer
  • Can someone please explain what grassroots are in easy terms? I have tried to find a definition that I understand but I can't fi
    11·1 answer
  • Which of the four main methods of international entry did Assan Motors employ to expand into the U.S.
    5·1 answer
  • Computer database programs make it easier for businesses to manage
    13·1 answer
  • WRITE A IMPORTANT SENTANCE ABOUT EACH PARAGRAPH AND NUMBER IT PLS AND ILL GIVE YOU BRAINLIEST....DONT RESTATE THE SENTANCES
    15·1 answer
  • Volume-based rates are appropriate in situations where the incurrence of factory overhead?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!