Solution-What the net income of the sales agency for the

What the net income of the sales agency for the six months

Assignment Help Cost Accounting

Reference no: EM132918335

Question - On February 14, 2012, Therese Company established a sales agency in Tagbilaran. Upon establishment of the sales agency, the home office sent samples costing P8,000 and a working fund of P3,000 to be maintained on the imprest basis. During the six months period, the sales agency reported to the home office sales orders. These were billed atP70,000 of which of P40,000 was collected) the sales agency paid expenses of P5,800 but was reimbursed by the home office. On August 15, 2012, the sales agency samples were valued at P2,000. It was estimated that the gross profit on goods shipped to fill sales order averaged 40% of cost.

Required -

1. What the cost of sales of the sales agency for the six months period?

2. What the net income of the sales agency for the six months period?

Reference no: EM132918335

Questions Cloud

Discuss the four types of organizational structures : Identify and briefly discuss the four types of organizational structures that can be aligned with strategy execution.

Construct a memo to the bank manager : Construct a memo to the Bank's Manager. You can demonstrate this memo as if you are Monique, the HR director, a co-worker, the newspaper, etc. Decide who you wi

Determine the basic and diluted earnings per share : Determine the basic and diluted earnings per share to be reported for 2020, showing your computations in a well formatted schedule

Explain feasibility report contents : Explain feasibility report contents. Write down all feasibility report contents.

What the net income of the sales agency for the six months : On August 15, 2012, the sales agency samples were valued at P2,000. What the net income of the sales agency for the six months period

Leading discovery commerce platform : On the company website, Birchbox is labeled "the leading discovery commerce platform." Founded by Hayley Barna and Katia Beauchamp, the company is an e-commerce

What will your total sum of money be ten years from now : Your son is going to college in 10 years, and you want to have a certain savings by then. What will your total sum of money be ten years from now

Assignment-business ethics and responsibility : Chona opened an online food service for an additional income. She hired one female helper in the kitchen and two delivery boys. The business was doing very good

Demographic and psychographic descriptions of the people : The job of a media sales representative is to sell ad space in various media, to advertisers looking to reach certain target audiences. Media sales reps for Con

User Account

All Pages

What the net income of the sales agency for the six months

Reference no: EM132918335

Reference no: EM132918335

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT