Neha's warehouse was damaged by fire on 5 November 2003 and most of the stock was destroyed.

Question:

Neha's warehouse was damaged by fire on 5 November 2003 and most of the stock was destroyed. The stock that was salvaged was valued at $12 000.

Neha has provided the following information to enable the cost of the stock lost to be calculated.

Neha's mark-up on goods sold is 33 1/3%.

Required

Calculate the cost of the stock lost in Neha's fire.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting A Level And AS Level

ISBN: 9780521539937

1st Edition

Authors: Harold Randall

See More Books

Question Posted: Aug 27, 2023 08:51 AM

See More Questions

Use the Pythagorean Theorem to find each missing length. a. b. c. Can 4 cm Crm 12 in in 3 in
Repeat Prob. 38 using singularity functions exclusively (including reactions). Repeat Prob. 38, For the beam shown, find the reactions at the supports and plot the shear-force and bending-moment...
Hyten Corporation On June 5, 1998, a meeting was held at Hyten Corporation, between Bill Knapp, Director of Marketing/Sales, and John Rich, director of engineering. The purpose of the meeting was to...
Consider the circuit shown in (Figure 1). Suppose that v 240 V,v 2 110 V, and v 3 450 V Figure 1 of 1 a) Use the mesh-current method to find the magnitude of the total power developed in the circuit...
For each of the following items sold on credit, estimate the net present value of grantingcredit. Item Refridgerato 1,200 300 800 Sale Price Investment Collection Required Probibility Period 3 month...
Would you expect distributions of these variables to be uniform, unimodal or bimodal? Symmetric or skewed? Explain why. (a) Ages of shoppers in a convenience store near a university late Saturday...
Refer to the Arctic Springs Filtration Department Data Set. Complete Step 5 of the process costing procedure: Assign costs to units completed and to units in ending inventory. Prepare a schedule that...
On January 1, 2017, the dental partnership of Angela, Diaz, and Krause was formed when the partners contributed $30,000, $58,000, and $60,000, respectively. Over the next three years, the business...
(08 Marks) In the Fig.1(c), compare the output of the network, if the activation function is a sigmoid 1 function y=- and (X1, X2) (1, 1). 1+e 1+1 AYY Y YC.) B YC. ye D 46 (06 Marks)
Ahmed carries on business as a general trader. He has not kept proper accounting records and he asks you to help him prepare his Trading and Profit and Loss Account for the year ended 30 September...
At 1 January 2003 Robert's business assets were valued at $36 000 and his liabilities amounted to $2000. At 31 December 2003 Robert's assets amounted to $57 000 and included his private car which he...
Compare the value of monetary payments using present value and future value.
The state that Mr. Smith lives in has a 6% sales tax. If he purchases a boat that costs $16,000, he must pay $960 in taxes. The correct term associated with the $960 is referred to as the: Group of...
CHOSEN TOPIC(S): What are the statistics of an abusive upbringing that connects with recurrently violent offenders? (Realistic motif) Does the sensationalized portrayal of famed criminals in media...
Cema Inc. acquires bonds with a maturity value of $900,000 for $870,000. How would Cema record the purchase of these bonds in its journal entry
Giant ACO has agreed to a shared savings rate of 65 percent and a shared loss rate of 40 percent with CMS. The benchmark for the year is $3M. The actual expenses for the year are $3.2M. How much...
It has been almost 60 years since EPA 1963 was passed, but, as some believe, we are far from achieving gender pay equality and equity. Depending which kind of sources you use as the source of your...
Karl Pearson developed a measure that describes the skewness of a distribution, called the coefficient of skewness. The formula is Skewness = 3(mean median) /standard deviation The value of this...
In what ways does a well-designed enterprise search software vary from popular search engines (e.g., Bing, DuckDuckGo, and Google)?
Mary is a shareholder in CarrollCo, a calendar year S corporation. At the beginning of the year, her stock basis is $10,000, her share of the AAA is $2,000, and her share of corporate AEP is $6,000....
Assume the same facts as in Problem 36, except that the two shareholders consent to an AAA bypass election.
At the beginning of the tax year, Lizzie holds a $10,000 stock basis as the sole shareholder of Spike, Inc., an S corporation. During the year, Spike reports the following. Determine Lizzies stock...
1. Re-design the given circuit using a minimal number of NOR gates (any size). You do not have to draw the circuit. CD A AB B Out
Required information The Bureau of Indian Affairs provides various services to American Indians and Alaska Natives. The Director of Indian Health Services is working with chief physicians at some of...
Why is federalism such a significant factor in determining public policy? How do public participation and ethical principles impact the way in which public policy is made? How can we as private...

Neha's warehouse was damaged by fire on 5 November 2003 and most of the stock was destroyed.

Question:

Extracts from Balance Sheet at 30 June 2003: Stock Web 47 000 Debtors 16 000 Creditors 23 000 Further information for the period 30 June 2003 to 5 November 2003: $ 122 000 17 000 138 000 25 37 000 28 000 Receipts from debtors Cash sales Payments to suppliers At 5 November: Debtors Creditors

Step by Step Answer:

Amount Stock at 30 June 2003 47000 Debtors at 30 June 2003 16000 Creditors at 30 June 2003 23000 Rec...View the full answer

Accounting A Level And AS Level

Students also viewed these Business questions