Can someone help with this practice problem so I know how to do the real one. I do not know how at all. So step by step would be helpful. I am getting flagged for a violation. Can someone just help explain the steps involved. You don’t have to hand me the answer on a silver platter.
Graduation CI xBb Course Docun xCan someone xWileyPLUSGYou are called xBSG Corporat>Cengage DigitMicrosoft Wor xRelaxing King xSecure | https://edugen.wileyplus.com/edugen/student/mainfr.uniWileyPLUSKieso, Intermediate Accounting, 16eINTERMEDIATE ACCOUNTING (ACCT 372/373/374)HoRead, Study & PracticeAssignmentGradebookORIONDownloadable eTextbookAssignment > Open AssignmentCALCULATORFULL SCREENPRINTER VERSION1 BACKNEXTASSIGNMENT RESOURCESExercise 9-17Ch 9 HW practiceBrief Exercise 9-2x Your answer is incorrect. Try again.Brief Exercise 9-4Brief Exercise 9-6You are called by Tim Duncan of Spurs Co. on July 16 and asked to prepare a claim for insurance as a result of a theft that took place the night before. You suggest that an inventory beBrief ExExercise 9-10taken immediately. The following data are available.Brief Exercise 9-13Exercise 9-2Inventory, July 1$ 38,000Exercise 9-7Purchases-goods placed in stock July 1-1585,000Exercise 9-9Exercise 9-14Sales revenue-goods delivered to customers (gross)116,000x Exercise 9-17Sales returns-goods returned to stock4,000Exercise 9-26Your client reports that the goods on hand on July 16 cost $30,500, but you determine that this figure includes goods of $6,000 received on a consignment basis. Your past records showReview Scorethat sales are made at approximately 40% over cost. Duncan’s insurance covers only goods owned.Review Results by StudyObjectiveCompute the claim against the insurance company. (Round ratios for computational purposes to 2 decimal places, e.g. 78.73% and final answer to 0 decimal places, e.g.28,987.)Claim against the insurance companySHOW SOLUTIONSHOW ANSWERLINK TO TEXTQuestion Attempts: 3 of 15 usedSAVE FOR LATERSUBMIT ANSWEROM2:00 0 – 1