Please present your solution in good accounting form. Thank you! 1.) What is the inventory value of the units unsold in the hands of the consignee? A. 150,000 C. 154,500 B. 153,000 D. 157,500 2.) What is the profit of the consignor for the units sold? A. 24,000 C. 27,000 B. 26,000 D. 70,000
Please present your solution in good accounting form. Thank you! 1.) What is the inventory value of the units unsold in the hands of the consignee? A. 150,000 C. 154,500 B. 153,000 D. 157,500 2.) What is the profit of the consignor for the units sold? A. 24,000 C. 27,000 B. 26,000 D. 70,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Topic Video
Question
Please present your solution in good accounting form. Thank you!
1.) What is the inventory value of the units unsold in the hands of
the consignee?
A. 150,000 C. 154,500
B. 153,000 D. 157,500
2.) What is the profit of the consignor for the units sold?
A. 24,000 C. 27,000
B. 26,000 D. 70,000
![Problem 8
On October 1,
consignment.
P20,000 each.
P10,000. The cost of shipment paid by the consignor was P7,500.
The consignor agreed to absorb the consignee's expenditure for
freight and also to allow the consignee P1,000 for delivery and
shipped 25
CLARK
cameras
to
KENT
Inc on
to be sold at list price of
the consignor is
The
are
of each camera
cameras
The
cost
to
installation for each set.
Commission is to be 25% of the sales
On October 31, KENT submitted the following summary of
price.
consignment sales:
Sets received
Sets sold
Sets
25
8
returned
(defective)
Sets on hand
to
consignor
2
10
15
October 2-30 Sales, 8 cameras @ P20,000
Charges:
P 160,000
Freight-in
Deliveries and Installation
P 5,000
8,000
expenses
Commissions
40,000
53,000
P 107,000
25,000
Total
Remittance
Balance owed (collections from
customers not yet made)
82,000
CMP](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcf89e3e7-61f1-4a16-b511-2a0797287e98%2Fef70d275-d3b0-4379-9ebc-43fa58ccd20d%2Fx0ch68t_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem 8
On October 1,
consignment.
P20,000 each.
P10,000. The cost of shipment paid by the consignor was P7,500.
The consignor agreed to absorb the consignee's expenditure for
freight and also to allow the consignee P1,000 for delivery and
shipped 25
CLARK
cameras
to
KENT
Inc on
to be sold at list price of
the consignor is
The
are
of each camera
cameras
The
cost
to
installation for each set.
Commission is to be 25% of the sales
On October 31, KENT submitted the following summary of
price.
consignment sales:
Sets received
Sets sold
Sets
25
8
returned
(defective)
Sets on hand
to
consignor
2
10
15
October 2-30 Sales, 8 cameras @ P20,000
Charges:
P 160,000
Freight-in
Deliveries and Installation
P 5,000
8,000
expenses
Commissions
40,000
53,000
P 107,000
25,000
Total
Remittance
Balance owed (collections from
customers not yet made)
82,000
CMP
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