Reference no: EM132785489
Anton Corporation delivered 150,000 bath water heaters on consignment basis to Dave Company. These water heaters cost P900,000 each, and they are advertised to sell at P1,500,000 each.
The consignee is to be allowed a commission of 15% of the selling price. The consignment agreement also stated that the consignor would draw a sight draft on the consigned for 60% of the cost of the water heaters. The advance shall be recovered periodically by the consignee through monthly deductions, in proportion to the number of units sold, from the remittances which accompany the monthly account sales. All expenses of the consignee are to be deducted monthly as incurred.
The consignee rendered an account sale at the end of the first month showing, among other things, the following information.
Advertising...........................P 2,250,000
Delivery expense..............................................................1,125,000
Commission............................................................3,375,000
Problem 1: The amount remitted by Dave Co. and the consignment profit of Anton Corp. are:
|
HI5017 Managerial Accounting Assignment
: HI5017 Managerial Accounting Assignment Help and Solution - Holmes Institute, Australia - Assessment Writing Service - search and critically review specific MAS
|
|
Prepare general journal entries to record the transactions
: Prepare general journal entries to record these transactions, using a perpetual inventory system. Dec 3 Purchased merchandise for cash, $1,900.
|
|
Why proxies are required for investor sentiment
: Critically review related literature, and summarise and evaluate approaches to construct proxies for investor sentiment.
|
|
Find firm capital expenditures in 2020
: Given the above information, what was the firm's capital expenditures in 2020?
|
|
What amount remitted by dave co and the consignment profit
: What amount remitted by Dave Co. and the consignment profit of Anton Corp. are? Anton Corporation delivered 150,000 bath water heaters on consignment
|
|
Employees of riley industries on hdhps
: How should you educate the employees of Riley Industries on HDHPs?
|
|
Describe the russian empire as a confessional state
: In the first part of the article, Crews describes the Russian Empire as a "confessional state". What does he mean by this term? Also in the first part of the.
|
|
Make entries to record accrued labor at the end of january
: Make entries to record accrued labor at the end of January, to distribute payroll, and to record employer's taxes on wages earned in January.
|
|
What is the current price-gilmore inc
: Gilmore, Inc., just paid a dividend of $3.76 per share on its stock. The dividends are expected to grow at a constant rate of 6.5 percent per year, indefinitely
|