Seahawks, Inc. had the followingconsignment transactions during December:No sales of consigned goods were madethrough December 31. Seahawks' December31 balance sheet should include consignedinventory at Inventory shipped on consignment to Ashe Company ...Freight paid by Seahawks ...Inventory received on consignment from Fenn CompanyFreight paid by Fenn ..P18,00090012,000500

In case of consignment, the goods which are shipped on consignment by consignor to consignee would…

Answered: 31 balance sheet should include…

Business

Accounting

31 balance sheet should include consigned inventory at

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Seahawks, Inc. had the following
consignment transactions during December:
No sales of consigned goods were made
through December 31. Seahawks' December
31 balance sheet should include consigned
inventory at

Inventory shipped on consignment to Ashe Company ...
Freight paid by Seahawks ...
Inventory received on consignment from Fenn Company
Freight paid by Fenn ..
P18,000
900
12,000
500

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