User Account

All Pages

How much is amount remitted by def to abc for first month

Assignment Help Financial Accounting
Reference no: EM132951008

ABC Company delivered 150 portable gas stoves to DEF Company on consignment. These stoves cost P2,700 each and could be sold for P4,500. The consignee is to be allowed a commission of 15% of the selling price. The agreement for the consignment contract stated that ABC Company would draw a sight draft on the consignee for 60% of the cost of the stoves and the advance shall be recovered periodically by monthly deductions (in proportion to units sold) from the remittances which accompany the account sales. All expenses of the consignee are to be deducted monthly as incurred. The consignee ordered an Account Sales at the end of the first month showing among others, the following information: Advertising P6,750; Delivery Expense P3,375 and Commission P10,135.

Problem 1: How much is the amount remitted by DEF to ABC for the first month?

Reference no: EM132951008

Questions Cloud

How does a supply chain evolve into a value chain : How does a supply chain evolve into a value chain?
Please define static demand : 1. Please identify the four types of inventory that will be used and stored in a typical manufacturing operation.
Compute the estate tax for tom estate : Mortgage $ 3,200,000 Other liabilities 4,100,000 $ 7,300,000. Tom made a taxable gift of $8 million in 2011. Compute the estate tax for Tom's estate
Describe the three types of product use testing put : 1. Provide an example of a scoring model for a full scree, with an example
How much is amount remitted by def to abc for first month : ABC Company delivered 150 portable gas stoves to DEF Company on consignment. How much is the amount remitted by DEF to ABC for the first month?
Determine the fixed factory overhead volume variance : Willingham Company produced 6,000 units of product that required 5 standard direct labor hours per unit. Determine the fixed factory overhead volume variance
Find what the amount of revenue to be recorded for the year : Find what the Amount of revenue to be recorded for the year by Bunny is? Each houses costs P4,000,000 each (a total of 10 houses are to be constructed)
Compare interventions used for crises : Compare interventions used for crises with those used for disasters.
What is the project MIRR : A project has an initial cost of $40,000, expected net cash inflows of $10,000 per year for 7 years, and a cost of capital of 8%. What is the project's MIRR

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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