Q5 only Cowboys by the Numbers40,000Estimated number of cowboys in early 1870sApproximate US population in early 1870s.Number of cattle trailed north from Texas, 1867 to 1887Average number of years a man worked as a cowboyFraction of cowboys who were HispanicFraction of cowboys who were African AmericanTypical monthly pay for a Texas cowboy on a long driveTypical monthly pay for a Texas teacher in 1870sPrice of a new Stetson hat in Abilene, KansasNumber of cattle on typical long drive out of TexasAverage number of cowboys per long driveHours of night watch per night on long driveNumber of gallons of water drunk per steer, per dayPounds of a weight loss by one steer in hot night stampedePrice per steer for range cattle in south Texas in 1870sAverage market price per steer at Kansas railhead in 1870sAverage cost per steer to drive cattle north40,00040,000,0005,500,00071/92/9$30$40 - $50$102,0001023050$8$30$230Document Analysis1. Out of every 1,000 Americans in the early 1870s, how many were cowboys?2. What evidence is there that about one-third of cowboys were non-white?Add the percentage of the african american portion and the hispanic portion.3. Use the average numbers above. Let's say that in 1879 an owner drove 1,000 head of cattle fromsouth Texas o market in Dodge City but lost 100 cattle to stampedes,and disease.What was his profit or loss for the entire venture?$21,6404.What numbers might encourage a Texas cowboy to re-up for another cattle drive? Explain. Priceper steer for range cattle in south Texas in 1870s. How much you get paid is dependent on howmany cattles you bring in.5.What numbers might discourage re-upping? Explain. The Average cost per steer to drive cattlenorth, which is $230. Most of their money were gone.

1. Approximate US population in the early 1870s is 40,000,000 The estimated no of cowboys in the…

Answered: 5. What numbers might discourage…

5. What numbers might discourage re-upping? Explain. The Average cost per steer to drive cattle north, which is $230. Most of their money were gone.

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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Question

Q5 only

Cowboys by the Numbers
40,000
Estimated number of cowboys in early 1870s
Approximate US population in early 1870s.
Number of cattle trailed north from Texas, 1867 to 1887
Average number of years a man worked as a cowboy
Fraction of cowboys who were Hispanic
Fraction of cowboys who were African American
Typical monthly pay for a Texas cowboy on a long drive
Typical monthly pay for a Texas teacher in 1870s
Price of a new Stetson hat in Abilene, Kansas
Number of cattle on typical long drive out of Texas
Average number of cowboys per long drive
Hours of night watch per night on long drive
Number of gallons of water drunk per steer, per day
Pounds of a weight loss by one steer in hot night stampede
Price per steer for range cattle in south Texas in 1870s
Average market price per steer at Kansas railhead in 1870s
Average cost per steer to drive cattle north
40,000
40,000,000
5,500,000
7
1/9
2/9
$30
$40 - $50
$10
2,000
10
2
30
50
$8
$30
$230
Document Analysis
1. Out of every 1,000 Americans in the early 1870s, how many were cowboys?
2. What evidence is there that about one-third of cowboys were non-white?
Add the percentage of the african american portion and the hispanic portion.
3. Use the average numbers above. Let's say that in 1879 an owner drove 1,000 head of cattle from
south Texas o market in Dodge City but lost 100 cattle to stampedes,
and disease.
What was his profit or loss for the entire venture?$21,640
4.What numbers might encourage a Texas cowboy to re-up for another cattle drive? Explain. Price
per steer for range cattle in south Texas in 1870s. How much you get paid is dependent on how
many cattles you bring in.
5.What numbers might discourage re-upping? Explain. The Average cost per steer to drive cattle
north, which is $230. Most of their money were gone.

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