The questions are from the same number problem On June 15, 2019, Robinson Company received a shipment of merchandise fromTaytay Company with a selling price of P100,000. The consigned goods costTaytay Company P70,000. Freight charges of P5,000 had been paid by TaytayCompany for the shipment. The terms of the consignment are the following:2, n/303;15% commission based on gross salesCash discounts taken by customers, expenses applicable to the goods onconsignment and any form of cash advanced to the consignor aredeductible from the remittance by the consignee. Robinson CompanyadvancedRobinson Company advanced P10,000 to Taytay Company upon receipt of theshipment. An expense related to sold units of P3,500 was paid by RobinsonCompany. By June 2019, 80% of the shipment wad been sold, and 90% of theresulting accounts receivable had been collected, all within the discount period.Remittance was made on June 30, 2019.6. The amount remitted by Robinson on June 30, 2019 amounted to:P51,600b. Р56,100P56,260d. P64,100a.C.7. The net income of the consignment amounted to:a. P1,180P4,100d. P4,260C.b. Р3,2608. The inventory on consignment amounted to:a. P14,000b. P15,000P15,700d. P21,000с.

Consignment means where consignor send goods to consignee to be sold by later on the behalf of…

On June 15, 2019, Robinson Company received a shipment of merchandise from Taytay Company with a selling price of P100,000. The consigned goods cost Taytay Company P70,000. Freight charges of P5,000 had been paid by Taytay Company for the shipment. The terms of the consignment are the following: 2, n/30; 15% commission based on gross Cash discounts taken by customers, expenses applicable to the goods on consignment and any form of cash advanced to the consignor are deductible from the remittance by the consignee. Robinson Company sales advanced Robinson Company advanced P10,000 to Taytay Company upon receipt of the shipment. An expense related to sold units of P3,500 was paid by Robinson Company. By June 2019, 80% of the shipment wad been sold, and 90% of the resulting accounts receivable had been collected, all within the discount period. Remittance was made on June 30, 2019. 6. The amount remitted by Robinson on June 30, 2019 amounted to: P51,600 b. P56,100 P56,260 d. P64,100 a. с. 7. The net income of the consignment amounted to: P4,100 d. P4,260 a. P1,180 b. Р3,260 с. 8. The inventory on consignment amounted to: a. P14,000 b. P15,000 P15,700 d. P21,000 с.