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
LuckyWell [14K]
3 years ago
12

Howard's Supply Co. suffered a fire loss on April 20, 2021. The company's last physical inventory was taken January 30, 2021, at

which time the inventory totaled $231,000. Sales from January 30 to April 20 were $611,000 and purchases during that time were $461,000. Howard's consistently reports a 25% gross profit. The estimated inventory loss is: Multiple Choice $484,750. $221,750. $233,750. None of these answer choices are correct.
Business
1 answer:
Westkost [7]3 years ago
3 0

Answer :

Estimated inventory loss = $233,750

Explanation :

As per the data given in the question,

Inventory = $231,000

Purchases = $461,000

Cost of goods for sale (A) is

= $231,000 + $461,000

= $692,000

Sales = $611,000

Gross Profit = $611,000 × 25% = $152,750

Cost of goods Sold (B) is

= ($611,000 - $152,750)

= $458,250

So, Estimated inventory loss  is

= (A - B)

= ($692,000 - $258250)

= $233,750

We simply applied the above formula

 

You might be interested in
You would like to establish a trust fund that will provide $50,000 a year forever for your heirs. The trust fund is going to be
Finger [1]

Answer:

$1,818,181.81

Explanation:

Data provided:

Amount that will be provided a year = $50,000

Expected rate of return = 2.75%

Now,

The Present value of perpetuity is given as:

Present value of perpetuity = \frac{\textup{Annual return}}{\textup{Expected rate of return}}

on substituting the respective values, we get

Present value of perpetuity = \frac{\textup{50,000}}{\textup{0.0275}}

or

Present value of perpetuity = $1,818,181.81

Hence,

The amount that must be deposited today to fund this gift is $1,818,181.81

5 0
3 years ago
You work for an accounting firm. Just last week the state legislature passed reforms to the state tax code. The revised tax code
kolezko [41]

A summary is simply known as a short explanation of a work's content. The type of short informational report that I have been asked to write is a summary.

A summary report can consist of;  

  • The author's major supporting ideas.
  • They show the author's purpose in writing etc.

A summary often start with an introductory sentence that talks about the text's title, author and main point of the text as you see it.

A summary is often written in your own words and it should have the ideas of the original text.

Learn more from

brainly.com/question/17180048

3 0
2 years ago
Per OSHA guidelines, the five major components of an effective safety and health program are: management commitment & hazard
Rainbow [258]

Answer:

Worksite Analysis

Explanation:

Based on the information provided within the question it can be said that the final major component of the OSHA guidelines are Worksite Analysis. This component refers to the various actions that provide all the information needed to help an individual recognize and understand all the dangers and potential hazards of the workplace environment.

4 0
3 years ago
Does anybody know xxalvinaa
natita [175]
....................no
3 0
3 years ago
A loan is being amortized by means of level monthly payments at an annual effective interest rate of 8%. The amount of principal
suter [353]

Answer:

d) 216

Explanation:

We need to equate the value of 12th payment and t^th payment through the below formula.

=> 1000*(1+8%)^[(t-12)/12] =3700

=> (1.08)^[(t-12)/12] =3.7

=> [(t-12)/12] =17

=> t=216

4 0
3 years ago
Other questions:
  • The comparative balance sheet of ConnieJo Company, for December 31, Years 1 and 2 ended December 31 appears below in condensed f
    11·1 answer
  • Which is the safest way to invest money
    13·1 answer
  • Sophia watches a TV commercial for Missy 21, a women's magazine. The commercial asks viewers to call a toll-free number to place
    13·1 answer
  • According to the provisions of the _____, publically listed companies now must allow shareholders to vote on executive compensat
    11·1 answer
  • Norris Company declared cash dividends of $60,000 during the year. Cash dividends payable were $20,000 at the beginning of the y
    8·1 answer
  • Anya needs $500 to help pay for a trip to Europe. She calls her parents and asks if they will give her $5,000 for her trip, and
    15·1 answer
  • Journalize the following sales transactions for Antique Mall. Explanations are not required. The company estimates sales returns
    6·1 answer
  • The nth term of the GP is (-1)^n(2)^n.
    11·1 answer
  • Burt Inc. has a number of divisions, including the Indian Division, a producer of liquid pumps, and Maple Division, a manufactur
    9·1 answer
  • Loyalty requires you to dismiss all of your personal goals permanently. Please select the best answer from the choices provided
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!