MedLab Inc. consigned 4,800 medical equipment costing P90 and retailing for P3,000 each to ACC Co. Freight cost of P4,800 was paid as freight expenses by the consignor. After a month, MedLab received P213,030 in full settlement of the balance due. The consignor deducted a commission of P600 for each equipment sold, P270 for delivery expense and P300 for advertising expense. How many medical equipment were sold?
MedLab Inc. consigned 4,800 medical equipment costing P90 and retailing for P3,000 each to ACC Co. Freight cost of P4,800 was paid as freight expenses by the consignor. After a month, MedLab received P213,030 in full settlement of the balance due. The consignor deducted a commission of P600 for each equipment sold, P270 for delivery expense and P300 for advertising expense. How many medical equipment were sold?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![MedLab Inc. consigned 4,800 medical equipment costing P90 and retailing for P3,000 each to ACC Co. Freight cost of
P4,800 was paid as freight expenses by the consignor. After a month, MedLab received P213,030 in full settlement of
the balance due. The consignor deducted a commission of P600 for each equipment sold, P270 for delivery expense and
P300 for advertising expense. How many medical equipment were sold?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F05575d29-b545-4e8c-b87b-922c821a6483%2F796db26b-d38e-4e2e-a252-0c4e6572fa76%2Fgd61ngi_processed.png&w=3840&q=75)
Transcribed Image Text:MedLab Inc. consigned 4,800 medical equipment costing P90 and retailing for P3,000 each to ACC Co. Freight cost of
P4,800 was paid as freight expenses by the consignor. After a month, MedLab received P213,030 in full settlement of
the balance due. The consignor deducted a commission of P600 for each equipment sold, P270 for delivery expense and
P300 for advertising expense. How many medical equipment were sold?
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education