User Account

All Pages

How much is the commission

Assignment Help Accounting Basics
Reference no: EM132760192

Problem - Schindler Co. consigns 20 water heaters to Paralax Co. on January 1, 20x1. The unit cost per water heater is P10,000. Schindler pays P3,000 in transporting the water heaters to Paralax. At month-end, Paralax remits P232,000 for the sale of 16 water heaters, after deduction for the following:

20% commission based on selling price

Freight out P16,000

Installation costs P 8,000

Required - How much is the commission?

Reference no: EM132760192

Questions Cloud

List the distinctive features of trompenaar model : List the distinctive features of Trompenaar's model of cultural difference.
What amount should be recognized as gain on distribution : What amount should be recognized as gain on distribution of property dividend in 2021? The entity had 400,000 authorized shares of P5 par value of which 300,000
What are the different methods a leader : What are the different methods a leader can utilize adaptive work to adjust his/her thinking.
Describe a potential ethical issue : Briefly identify and describe a potential ethical issue that may arise from Daniel's and Kelly's minimal knowledge or experience with investing
How much is the commission : The unit cost per water heater is P10,000. Schindler pays P3,000 in transporting the water heaters to Paralax. How much is the commission
Find what is the gain on sale of bonds : Cone Company acquired long term 12% bond,On December 31, 2020, Cone sold all bonds for P2,300,000 excluding accrued interest. What is the gain on sale of bonds?
How much should the share worth : Company B's share is trading at $43 per share. It has paid out a dividend of $3 per share recently and the expected dividend growth rate is 2% every year.
How can you provide assistance during risk audits : A) Why is it important to regularly monitor/ review implemented treatment/s or controls of business risk against measures of success? Give three reasons.
Prove the efficient frontier of two-security portfolio : How do Prove the efficient frontier of two-security portfolio is a straight line when the two securities are perfectly positively correlated.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Financial reporting and ethical perspectives

Respond to the controller's explanation from financial reporting and ethical perspectives.

  What price should colgate charge to obtain the same profit

Product Pricing: Single Product - If sales for 2010 remain at 12,000 units, what price should Colgate charge to obtain the same profit as last year

  What would be the impact to monthly profits

The Cardinal Company produces T-shirts promoting Otterbein University to various retailers. What would be the impact to monthly profits

  The business has a good reputation for high-quality photos

encosta memories is a small family photography business. the business has a good reputation for high-quality photos and

  Prepare the journal entry to record issuance of the stock

The land is valued at $232,000 and the building at $365,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building

  Find which of the types of audit procedures

Ending account balances may be audited through the use of which of the following types of audit procedures? Test of details of balances.

  Define installment-sales method calculations-entries

Coffin Corporation appropriately uses the installment-sales method of accounting to recognize income in its financial statements.

  Pricing of garbage collection

Thomas Kinnaman, an economist at Bucknell University, has analyzed the pricing of garbage collection:

  During its assessment of the accounts payable department

during its assessment of the accounts payable department the internal audit function identified the following

  What is the amount of current depreciation

The backyard fence fell into disrepair in June of 2019. She had it replaced June 27, 2019 for $8,399. What is the amount of current depreciation

  The current liability section of the balance sheet lists

the current liability section of the balance sheet lists the liabilities that are due within the next 12 months.

  Should he immediately withdraw from the engagement

Lisa Brown is the CEO of a software company. Ralph Benson has been preparing Lisa's annual tax returns for several years.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd