. Compute the commission and net proceeds for the sale on consignment. Gross Sales $42,800 Commission Rate 6% Commission Trucking & Delivery $988.00 Storage $650 Air Freight $0 Net Proceeds
. Compute the commission and net proceeds for the sale on consignment. Gross Sales $42,800 Commission Rate 6% Commission Trucking & Delivery $988.00 Storage $650 Air Freight $0 Net Proceeds
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
![**Question 3: Compute the commission and net proceeds for the sale on consignment.**
- **Gross**
- **Commission**
- **Trucking & Delivery**
- **Air**
- **Net Proceeds**
Details:
- **Sales**: $42,800
- **Rate**: 6%
- **Commission**: [To be calculated]
- **Delivery**: $988.00
- **Storage**: $650
- **Freight**: $0
- **Proceeds**: [To be calculated]
To calculate the **commission** and **net proceeds**, follow these steps:
1. **Commission Calculation**:
- Commission = Sales × Rate
- Commission = $42,800 × 6%
2. **Net Proceeds Calculation**:
- Net Proceeds = Sales - Commission - Delivery - Storage - Freight
Fill in the values after performing the calculations.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8dbcbf0b-9123-4a1c-9796-89fa34227664%2F8f6cea38-ea58-4c64-8907-d4b3e481ed81%2F8gla8sm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:**Question 3: Compute the commission and net proceeds for the sale on consignment.**
- **Gross**
- **Commission**
- **Trucking & Delivery**
- **Air**
- **Net Proceeds**
Details:
- **Sales**: $42,800
- **Rate**: 6%
- **Commission**: [To be calculated]
- **Delivery**: $988.00
- **Storage**: $650
- **Freight**: $0
- **Proceeds**: [To be calculated]
To calculate the **commission** and **net proceeds**, follow these steps:
1. **Commission Calculation**:
- Commission = Sales × Rate
- Commission = $42,800 × 6%
2. **Net Proceeds Calculation**:
- Net Proceeds = Sales - Commission - Delivery - Storage - Freight
Fill in the values after performing the calculations.
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