1. A whisteblower notified Bandolin Co. that one of its employees is stealing its merchandise. A physical count on Nov. 30, 20x1 revealed P 443, 000 of Product X were on hand. The accounting records shows the following: Inventory, jan 1 162, 000 Purcases, Jan 1 to Nov. 30( includes P56,000 goods in transit shipped FOB shipping point) 3,324,000 Purchase return and discounts 16,000 Freight in 104,000 Sales 4,654,000 Sales returns 10,000 Bandolin Co, consistently marks-up Product X at 35% based on sale price. How much is the loss due to theft? a. 555,400 b. 499,400 c. 112,400 d. 56,400

1. A whisteblower notified Bandolin Co. that one of its employees is stealing its merchandise. A physical count on Nov. 30, 20x1 revealed P 443, 000 of Product X were on hand. The accounting records shows the following: Inventory, jan 1 162, 000 Purcases, Jan 1 to Nov. 30( includes P56,000 goods in transit shipped FOB shipping point) 3,324,000 Purchase return and discounts 16,000 Freight in 104,000 Sales 4,654,000 Sales returns 10,000 Bandolin Co, consistently marks-up Product X at 35% based on sale price. How much is the loss due to theft? a. 555,400 b. 499,400 c. 112,400 d. 56,400

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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