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ABC Company delivered 150 portable gas stoves to DEF Company on consignment. These stoves cost P2,700 each and could be sold for P4,500. The consignee is to be allowed a commission of 15% of the selling price. The agreement for the consignment contract stated that ABC Company would draw a sight draft on the consignee for 60% of the cost of the stoves and the advance shall be recovered periodically by monthly deductions (in proportion to units sold) from the remittances which accompany the account sales. All expenses of the consignee are to be deducted monthly as incurred. The consignee ordered an Account Sales at the end of the first month showing among others, the following information: Advertising P6,750; Delivery Expense P3,375 and Commission P10,135.
Problem 1: How much is the amount remitted by DEF to ABC for the first month?
Find the Declining-balance. Jon Seceda Furnace Corp. purchased machinery for $315,000 on May 1, 2017. It is estimated that it will have a useful life of 10 year
Explain the treatment of each item of your corrected calculations that is treated differently from the original analysis prepared by the sales manager.
The fund pays an annual benefit of $2,500 per year of service. Calculate your annual benefit payments for 25, 28, and 30 years of service
Accounts receivables of $3,489,287, notes payable worth $1,151,864, and other current assets of $122,063. What is the company's net working capital?
Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning inventories. Post the above transactions to T-accounts. Determine the cost of goods sold for the period.
Prepare a? multi-step income statement for Clarkson Motorsports for the fiscal year ended November? 30, 2012. Include earnings per share.
What The capitalized cost of the land was? A plot of land was purchased for $120,000 and had $10,000 of past due property taxes on it.
You are planning to get a home loan which will pay the cost, How much are you going to have to pay in monthly payments for this plan?
Cat Health, Inc., is evaluating two investment projects, each of which requires and up-front expenditure of $1.5 million.
Lance Company manufactures baskets. When the standards for the covered basket were developed, it was determined that four hinges were needed for each basket and the standard cost for each hinge was $0.32. During the month, 450 covered baskets were pr..
Prepare all journal entries related to the above for the years ended December 31, 20x3 and December 31, 20x4
Discuss memorandum to the Azmi and Azzah evaluating Mountain Berhad's current performance and assessing its future. Give special emphasis
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