User Account

All Pages

Compute the profit for the consignor for the units sold

Assignment Help Accounting Basics
Reference no: EM131591979

Question: (Consignment Computations) On May 3, 2014, Eisler Company consigned 80 freezers, costing $500 each, to Remmers Company. The cost of shipping the freezers amounted to $840 and was paid by Eisler Company. On December 30, 2014, a report was received from the consignee, indicating that 40 freezers had been sold for $750 each. Remittance was made by the consignee for the amount due, after deducting a commission of 6%, advertising of $200, and total installation costs of $320 on the freezers sold.

Instructions: (a) Compute the inventory value of the units unsold in the hands of the consignee.

(b) Compute the profit for the consignor for the units sold.

(c) Compute the amount of cash that will be remitted by the consignee.

Reference no: EM131591979

Questions Cloud

Changing nature of work : How is the work environment being affected by the changing nature of work in the 21st century?
Utilize a cell phone in your daily lives? : What are ways that you utilize a cell phone in your daily lives?
Write a program that models an employee : Write a program that models an employee. An employee has an employee number, a name, an address, and a hire date. A name consists of a first name
Personality and its role in understanding leadership : Which of the following statements best captures common beliefs about personality and its role in understanding leadership?
Compute the profit for the consignor for the units sold : Consignment Computations) On May 3, 2014, Eisler Company consigned 80 freezers, costing $500 each, to Remmers Company.
Metal components of cell phones : What countries supply these metal components of cell phones? How does this demand interfere with the countries' sustainability and with the Earth's.
Write a program that takes a desired temperature : Write a program that takes a desired temperature as an input from the user. The temperature must be between 0 and 999 degrees
Explain the role of ethics and integrity in criminal justice : Explain the role of ethics and integrity in the criminal justice profession, and the higher standard expected of criminal justice professionals
Preliminary budget discussions : Debbie and her supervisor are having some preliminary budget discussions. The use of incentives is mentioned. Discuss the purpose of using incentives in Debbie'

Reviews

Write a Review

Accounting Basics Questions & Answers

  Mosbey inc is working on its cash budget for june the

mosbey inc. is working on its cash budget for june. the budgeted beginning cash balance is 16000. budgeted cash

  Resale of tax preparation and tax research

Silver Fox Corporation has been engaged in the resale of tax preparation and tax research-related books and software for several years.

  What is the net income over the period

If the firm issued no stock during the year, the dividends issued were $100, what's the net income over the period?

  Why does qualcomm report three different inventories

Qualcomm Incorporated is a leading developer and manufacturer of digital wireless telecommunications products and services.

  The zombie corporations common stock has a beta of 17 if

the zombie corporations common stock has a beta of 1.7. if the risk-free rate is 4.8 percent and the expected return on

  Computer-assisted audit technique

What are the advantages and disadvantages of the computer-assisted audit technique known as parallel simulation?

  Accounts payable are debts that must be paid off accured

accounts payable are debts that must be paid off. accured an accounting term for an expense that a business has

  Conference for accounting information systems

I want you to write an essay to submit to a conference for Accounting Information Systems. This makes our business look good and we show that we are leaders in value creation. Our objective is to increase profits by either increasing revenues, dec..

  What kinds of training might be provided to a franchisee

Today's Business World-Cold Stone Creamery® Do you love ice cream? Donald and Susan Sutherland's passion for ice cream led them to open Cold Stone Creamery®.

  Explain why the management of borealis

Prepare a report describing how the liquidity and working capital management of the company has changed between 2014 and 2015 - Explain the relevant rules on leasing as stated by IFRS, citing any accounting principles which are relevant and explaini..

  Andys agi is 45000 and he has no other employee business

filing status basic standard deduction additional standard deduction social securtiy base amountmarried joint 11400

  Calculate the contribution margin percentage

The contribution margin of an item is often a key piece of data used in deciding, Calculate the contribution margin percentage for your Adam sensor product

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: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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