Abenson Appliance Center consigned to XYZ Marketing the following<\/p>
merchandise:<\/p>
<\/p>
Cost Freight Total<\/p>
10 units of Sony LCD TV Set P300,000 PI 0,000 P310,000<\/p>
5 units of Blu-ray DVD player 275,000 5,000 280,000<\/p>
<\/p>
After one month, the consignee rendered an account sales as follows:<\/p>
<\/p>
Accounts Sales<\/p>
Sony TV Set DVD Player Total<\/p>
No. of units sales 7 3 10<\/p>
Amount of sales P280.000 P210,000 P490,000<\/p>
Less: Charges -<\/p>
Commission (10% of sales) 28,000 21,000 49,000<\/p>
Cartage-in 3,500 1,500 5,000<\/p>
Net amount P248,500 PI 87,500 P436,000<\/p>
Remittance to consignor P436,000<\/p>
<\/p>
The net income (loss) on consignment of Sony TV set is:<\/p>
<\/p>
a. PI 9,500 net income c. P51,000 net income<\/p>
b. P32,550 net income d. PI9,500 loss<\/p>", "transcribed_text": "", "related_book": { "title": "Income Tax Fundamentals 2013", "isbn": "1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516", "edition": "31st Edition", "authors": "Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1124.jpg", "uri": "\/textbooks\/income-tax-fundamentals-2013-31st-edition-9781285586618", "see_more_uri": "" }, "free_related_book": { "isbn": "B0CGX78MCJ", "uri": "\/textbooks\/libro-de-contabilidad-ingresos-y-gastos-libro-de-cuentas-para-autonomos-y-empresas-agenda-de-ahorro-planificador-de-ganancias-facturas-gastos-y-ahorros-1st-edition-b0cgx78mcj-289451", "name": "Libro De Contabilidad Ingresos Y Gastos Libro De Cuentas Para Autonomos Y Empresas Agenda De Ahorro Planificador De Ganancias Facturas Gastos Y Ahorros", "edition": "1st Edition" }, "question_posted": "2024-06-28 07:46:10", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/what-controls-might-an-auditor-test-related-to-the-valuation", "description": "What controls might an auditor test related to the valuation assertion for the sales account?", "stars": 3 }, { "url": "\/study-help\/psychology\/1-lets-see-we-were-discussing-and-1984301", "description": "1. 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The company also has $5,900 of...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/i-am-having-some-trouble-figuring-out-this-question-from-4265837", "next": "\/study-help\/questions\/you-received-partial-credit-in-the-previous-attempt-3-due-4265839" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Abenson Appliance Center consigned to XYZ Marketing the following merchandise: Cost Freight", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/abenson-appliance-center-consigned-to-xyz-marketing-the-following-merchandise-4265838" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }d": "1" } }