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Problem 1: Consignment Sales. On September 20, 2020, MOMOLAND Company assigned 40 freezers to BTOB Company costing P 14,000 each for sale at P 20,000 each and paid P 16,000 in transportation costs. On December 30, 2020, BTOB reported the sale of 10 freezers and remitted P 170,000. The remittance was net of the agreed 15% commission. What amount should be reported as consignment sales revenue for 2020?
Compute the amount of depreciation for this asset for 2014 and 2015 using the straight- line method. Compute the amount of depreciation for this asset for 2014 and 2015 using the sum-of- the-years'-digits method.
Calculate the degree of operating leverage at sales of $77,807,000 if (1) Olin Beauty uses sales agents, and (2) Olin Beauty employs its own sales staff. (Round answers to 2 decimal places, e.g. 10.50.)
Which one is true about deposit banks? Which one is true about saving deposit? Which one of the following true about saving banks?
A petty cash fund, It currently has cash of $41 and petty cash tickets totaling $359. Which would be included in the entry to replenish the fund?
Which of the following statements about cost of goods sold is wrong?
Rush Company budgeted that it would incur $180,000 of manufacturing overhead costs in the upcoming period. By the end of the period, Rush had actually incurred manufacturing overhead costs totaling $192,000. Determine how much manufacturing overhead ..
On 1/1/14 we sign a lease: Term is 5 years and is no cancellable with Payments of $23,981.59 made at the beginning of each year. The FMV of leased asset is $100,000 and has a economic life 5 years. No renewal option.
If machine 2 had been purchased on May 1 instead of January 1, what would be the depreciation expense for this machine in (1) 2008 and (2) 2009?
As of January 1, 2016, Farley Co. had a credit balance of $520,000 in its allowance for uncollectible accounts. Based on experience, 2% of Farley's credit sales have been uncollectible. During 2016, Farley wrote off $650,000 of accounts receivable. C..
The ledger of Zeta Corporation at December 31, 2012, after the books have been closed, contains the following stockholders' equity accounts.
The formula for computing the overhead volume variance is
What will be the amount of the noncontrolling interest in the consolidated balance sheet, and how will it be displayed in the consolidated balance sheet?
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