User Account

All Pages

Calculate the total profit on units sold

Assignment Help Accounting Basics
Reference no: EM132066490

Question - On August 5, 2018, Famous Furniture shipped 40 dining sets on consignment to Furniture Outlet, Inc. The cost of each dining set was $350 each. The cost of shipping the dining sets amounted to $1,800 and was paid for by Famous Furniture. On December 30, 2018, the consignee reported the sale of 30 dining sets at $850 each. The consignee remitted payment for the amount due after deducting a 6% commission, advertising expense of $600, and installation and setup costs of $780. The total profit on units sold for the consignor is

A) $22,590

B) $10,290

C) $12,090

D) $19,890

Reference no: EM132066490

Questions Cloud

Calculate the flexible budget variance for sales revenue : Loop 1604 Inc. has prepared a static budget at the beginning of the month. Calculate the flexible budget variance for Sales Revenue
Discuss the transparency and accountability : Consider steps you as a human services administrator might take to provide transparency and accountability to the public for an organization.
What entry is made in january to record the sale : The magazine sells 74400 subscriptions in January at $11 each. What entry is made in January to record the sale of the subscriptions
Determine consolidated net income and minority interest : Determine consolidated net income and minority interest income for 2017 under the parent company theory and the entity theory
Calculate the total profit on units sold : On August 5, 2018, Famous Furniture shipped 40 dining sets on consignment to Furniture Outlet, Inc. The total profit on units sold for the consignor is
What amount of unrealized gross must be deferred : Investor's ending inventory includes $30,000 purchased from investee. What amount of unrealized gross must be deferred in the equity method entry
What is the total cost to an organization with turnover : What is turnover? Explain why employees leave and why they stay. What is the total cost to an organization with turnover?
The base with estimated operating expenses : The Base Year is 2017 with estimated operating expenses of $10.21 psf. The lease commencement date is October 1, 2017.
Explain what is meant by hard and soft controls : Explain what is meant by "hard" and "soft" controls within V.I.M. systems and illustrate their effectiveness or ineffectiveness at a resort of your choice.

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