User Account

All Pages

Calculate the profit for the consignor for the units sold

Assignment Help Accounting Basics
Reference no: EM132797418

Problem - On May 31, 2020, Carla Vista Company consigned 120 freezers, costing $500 each, to Martinez Company. The cost of shipping the freezers amounted to $660 and was paid by Carla Vista Company. On December 30, 2020, a report was received from the consignee, indicating that 60 freezers had been sold for $810 each. Remittance was made by the consignee for the amount due after deducting a commission of 8%, advertising of $420, and total installation costs of $490 on the freezers sold.

Required -

1. Calculate the inventory value of the units unsold in the hands of the consignee.

2. Calculate the profit for the consignor for the units sold.

3. Calculate the amount of cash that will be remitted by the consignee.

Reference no: EM132797418

Questions Cloud

What the revenue effect of growth is : XYZ financial results for 2018 and 2019. For 2019, the revenue effect of growth is? Direct materials used in pounds 670,000,Direct material cost per pound.
What will be new portfolio beta : If Angela follows Dwight's advice, what will be her new portfolio beta? Ms. Angela Martin holds two stocks in her Portfolio: A and B. The portfolio beta is 1.40
How much cash is to be invested by ww : On May 1, 2015, WW invest enough cash to increase his capital to a one-third interest in the partnership. How much cash is to be invested by WW?
What amount of direct materials and conversion costs to be : The JIT Corp uses the a raw and in process (RIP), What amount of direct materials and conversion costs to be backflushed to finished goods are
Calculate the profit for the consignor for the units sold : Carla Vista Company consigned 120 freezers, costing $500 each, to Martinez Company. Calculate the profit for the consignor for the units sold
What amount of cash that c should receive : What amount of cash that C should receive in the first realization of assets is? Inventory with a book value of 90,000 was sold for 50,000.
Why early buying of value equities is ineffective : Rendering early identification and purchase of value equity ineffective strategically. Explain why early buying of value equities is ineffective strategically
Calculate RRSP Deduction Limit : Calculate her 2019 RRSP Deduction Limit, 2019 Unused RRSP Deduction Room and if any, carry forward of undeducted RRSP contributions
What is that single payment : Debt payments of $1,925.00 due today, What is that single payment if money is worth 8.65% p.a. and the agreed focal date is 115 days from now?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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