Question
During 2021, Mickey Mouse Corporation shipped 690 horcruxes on consignment to a consignee. The cost of each horcrux was $120. Mickey Mouse Corporation agreed to
During 2021, Mickey Mouse Corporation shipped 690 horcruxes on consignment to a consignee. The cost of each horcrux was $120. Mickey Mouse Corporation agreed to reimburse the consignee for any advertising expense incurred in the selling of the horcruxes.
On December 31, 2021, the consignee reported the sale of 330 horcruxes at $630 each. The consignee remitted payment to Mickey Mouse Corporation for the amount due after deducting an advertising expense of $10,000 and a 8% commission.
How much net profit before taxes would Mickey Mouse Corporation report from the above information?
$141,668
$181,268
$182,068
$142,468
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started