Five-eighths of Jesse Blacks inventory was destroyed by fire. He sold the remaining part, which was slightly
Question:
(a) What was the value of the destroyed part of the inventory?
(b) What was the value of the inventory before the fire?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
Let the original value of the slightly da...View the full answer
Answered By
Rodrigo Louie Rey
I started tutoring in college and have been doing it for about eight years now. I enjoy it because I love to help others learn and expand their understanding of the world. I thoroughly enjoy the "ah-ha" moments that my students have. Interests I enjoy hiking, kayaking, and spending time with my family and friends. Ideal Study Location I prefer to tutor in a quiet place so that my students can focus on what they are learning.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
Question Posted:
Students also viewed these Finance questions
-
The merchandise inventory was destroyed by fire on December 13. The following data were obtained from the accounting records: a. Estimate the cost of the merchandise destroyed. b. Briefly describe...
-
The inventory was destroyed by fire on October 11. The following data were obtained from the accounting records: a. Estimate the cost of the merchandise destroyed. b. Briefly describe the situations...
-
Fosbre Corporations April 30 inventory was destroyed by fire. January 1 inventory was $150,000, and purchases for January through April totaled $500,000. Sales for the same period were $700,000....
-
Conduct online research for federal income tax brackets for the current year. Which tax bracket do you fit into for your gross household income? How close is your gross household income to the next...
-
Patrick has a PAP with liability limits of $50,000/$100,000/$25,000. Patrick failed to stop at a red light and hit a van. The van sustained damages of $15,000. Three passengers in the van were...
-
Why have strategic alliances and joint ventures become a popular way of growing internationally?
-
Recording Sales Transactions} Refer to the information for Cornerstone Exercise 6-18 above. \section*{Required:} Prepare the journal entries to record these transactions on the books of Reece...
-
The sales department of C. Mack Manufacturing Co. has forecast sales for its single product to be 20,000 units for June, with three-quarters of the sales expected in the East region and one fourth in...
-
Assume that you recently graduated and you just landed a job as a financial planner with the Cleveland Clinic. Your first assignment is to invest 100,000. Because the funds are to be invested at the...
-
You are a first-year university student and excited about moving away from home to go to university. You have saved $6,000 from your summer employment and your parents have agreed to match that...
-
Suhami Chadhuri has a two-fifths interest in a partnership. She sold five-sixths of her interest for $3000. (a) What was the total amount of Ms. Chadhuris interest before selling? (b) What is the...
-
Last year, net profits of Herd Inc. were two-sevenths of revenue. If the company declared a dividend of $12 800 and five-ninths of the net profit was retained in the company, what was last years...
-
What is the relationship between crime and punishment? We use data from 90 North Carolina counties to examine the question. County crime rates and other characteristics are observed over the period...
-
Strategic Decision Making with Data Analytics (Monetary Expected Value and Monte Carlo Simulation) You work in a medium size construction company. You have been asked to assess a particular project...
-
Determine the output of the following 5 C program segments below. You must show all the output. a. int x[4] [3]={{1,2},5,6,8,7,9,10,11,14); int y[4] [3] [1,2,5,6,8,7,9,10,11,14}; for(int a=0;a
-
What role do dynamic market forces play in precipitating the decline of established organizations within technologically advanced sectors ?
-
Discuss the roles of zakat as an Islamic social fund in mitigating the effect of the Covid-19 pandemic on the people and the entire community. include at least 4 (FOUR) examples that have been taken...
-
For a standard normal distribution, find: P(z c) 0.2725 Find c rounded to two decimal places.
-
Chris Day, a retailer, extracted the year-end Trial Balance as shown. He informs you that (a) All expenses have been fully paid. (b) Included within other expenses is an amount of 11,400 paid for...
-
In Problem use geometric formulas to find the unsigned area between the graph of y = f(x) and the x axis over the indicated interval. f(x) = x + 5; [0, 4]
-
What principal will earn $39.96 interest from June 18, 2021, to December 15, 2021, at 9.25%?
-
Pierre registers for a business conference today during an early-bird sale for $449, instead of paying the full price of $499 five months from now. Had he not registered today, he would have invested...
-
How much interest will you pay on a debt of $7500 if you are paying the loan off in 13 months? Your loan rate is 6.375%.
-
Based on the following data, determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows.
-
On January 1 , 2 0 1 3 , Williams Company purchased a copy machine. The machine costs $ 1 6 0 , 0 0 0 , its estimated useful life is 8 years, and its expected salvage value is $ 1 0 , 0 0 0 . Please...
-
Linda Clark received $ 2 1 0 , 0 0 0 from her mother s estate. She placed the funds into the hands of a broker, who purchased the following securities on Linda s behalf: a . Common stock was...
Study smarter with the SolutionInn App