Reference no: EM132652509
On June 1, 2016, the greenbelt main office established a sales agency in ortigas, the main office sent samples of its merchandise amounting to P8,400 and a working fund amounting to P72,000 to be maintained on the imprest basis. The samples sent were intended to last until January 1, 2017. The agency transmitted to the home office sale of goods costing P291,600 but the home office was not able to fill up 35% of the said transmitted sales orders.
Collection from customers amounted to P82,175, net of 5% sales discount. Payments made by the agency during june and august were annual rent P70,200, advertising expense P4,650 and utilities P6,300. The agency also purchased an equipment on july 1, 2016 worth P11,000 which will be depreciated to 15% per annum. The gross profit rate on sales agency order is 20% of gross sales.
Problem 1: What is the net income of the agency for the three months ended august 31, 2016?
a. 18,610
b. 14,285
c. 14,147.50
d. 10,685
|
Compute net sales for the two months ended december
: Allowances, Sales Discounts, and Credit Card Discounts are treated as contra-revenues; compute net sales for the two months ended December 31.
|
|
Develop a migration plan to move all current infrastructure
: You company has been allocated an unlimited budget to move to a virtualization infrastructure. The current IT infrastructure exists on bare metal.
|
|
How might the signing of jeremy lin boost the business
: How might the signing of Jeremy Lin boost the business of Rocket Capital? What do business partners Red McCombs and Kenneth Huang bring to Rocket Capital?
|
|
Determine the net advantage of leasing and advise company
: Socks Ltd manufactures socks, Determine the net advantage of leasing and advise the company on the option they should take based on your findings.
|
|
What is the net income of the agency for the three months
: Collection from customers amounted to P82,175, net of 5% sales discount. What is the net income of the agency for the three months ended august 31, 2016?
|
|
Discuss background and history that led to the conflict
: Background and history that led to the conflict. How/why did the conflict escalate? What would the student have done differently, based on what he or she has.
|
|
What is the balance of unrealized profit in branch inventory
: The income statement submitted by the branch, What is the balance of the unrealized profit in branch inventory account at December 31, 2016?
|
|
Compute the range, variance and expected value
: ABC Company is considering the following project opportunities with their relative data: Compute the range, variance and expected value
|
|
Discuss whether you have ever read the terms of use
: When asked if you "accept the terms" of downloaded software, describe how clicking "yes" indicates you have entered into a contract. Discuss whether you have.
|