California Inc., through no fault of its own, lost an entire plant due to an earthquake on May 1, 2016. In preparing its insurance claim on the Inventory loss, the company developed the following dа ta: inventory January 1, 2016, $340,000; sales and purchases from January 1, 2016, to May 1, 2016, $1,160,000 and $885,000, respectively. California consistently reports a 30% gross prom. The estimated inventory on May 1. 2016. is: $473,000. $414,400. $378,000. $413,000.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “California Inc., through no fault of its own, lost an entire plant due to an earthquake on May 1, 2016. In preparing its insurance claim on ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Jesse company adjusts its accounts monthly and closes its accounts on december 31. on october 31, 2015, jesse company signed a note payable and borrowed $150,000 from a bank for a period of six months at an annual interest rate of 6 percent. a.
Answers (1)
Pharoah Corporation loaned $660000 to another corporation on December 1, 2020 and received a 3-month, 9% interest-bearing note with a face value of $660000. What adjusting entry should Pharoah make on December 31, 2020
Answers (1)
A 20 kilogram rock is dropped off the top of a 30 meter tall building. what is the kinetic energy of the rock right before it impacts the ground
Answers (1)
An automated machine fills bottles with a mean of 16 oz. and standard deviation of 0.1 oz. Assuming that Cpk index is 1 for this process, what are the lower and upper specification limits? Multiple Choice 1. lower spec = 14.
Answers (1)
This is a kind of money due to the government decree (or saying that is will be used as money).
Answers (1)
New Questions in Business
Petra's basis was $50,000 in the PAM Partnership interest just before she received a proportionate nonliquidating distribution consisting of land held for investment (basis of $40,000, fair market value of $60,000) and inventory (basis of $40,000,
Answers (1)
Nolte Co. has 4,500,000 shares of common stock outstanding on December 31, 2014. An additional 200,000 shares are issued on April 1, 2015, and 480,000 more on September 1. On October 1, Nolte issued $6,000,000 of 9% convertible bonds.
Answers (1)
Your friends own a lawn care business. They own their own equipment and trailers to transport it. Eventually they buy out another local lawn care company and double their customers. This is an example of 1. ending an oligopoly2.
Answers (1)
Suppose you currently earn $30,000 a year. you are considering a job that will increase your lifetime earnings by $300,000 but that requires an mba. the job will mean also attending business school for two years at an annual cost of $25,000.
Answers (1)
Wickland Company installs a manufacturing machine in its production facility at the beginning of the year at a cost of $154,000. The machine's useful life is estimated to be 5 years, or 370,000 units of product, with a $6,000 salvage value.
Answers (1)