Solution-What amount should alt report as payable for

What amount should alt report as payable for consigned

Reference no: EM132598632

Question 1: On December 1, 20x1, Alt Department Store received 505 sweaters on consignment from Todd. Todd's cost for the sweaters was ?80 each, and they were priced to sell at ?100 each. Alt's commission on consigned goods is 10%. At December 31, 20x1, 5 sweaters remained. In its December 31, 20x1 balance sheet, what amount should Alt report as payable for consigned goods?

Reference no: EM132598632

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What amount should alt report as payable for consigned

Reference no: EM132598632

Reference no: EM132598632

Questions Cloud

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Accounting Basics Questions & Answers

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Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

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