Answered step by step
Verified Expert Solution
Question
1 Approved Answer
ON May 1, 2013, TV INC. consigned 80 TVs to Ed's TV. The TVs cost $360. Freight on the shipment paid by Ed's TV was
ON May 1, 2013, TV INC. consigned 80 TVs to Ed's TV. The TVs cost $360. Freight on the shipment paid by Ed's TV was $800. On July 10, TV INC. received an account sales and $17,200 from Eds TV. Thirty TVs had been sold and the following expenses were deducted freight 800 commission (20% of sales price) ? advertizing $520 delivery $280 The inventory of TVs will be reported on which balance sheet and at what amount? balance sheet of amount of money a. TV Inc 18,500 b. TV Inc 18,000 c. Eds TV 18,500 d. Eds TV 18,000 must show work
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