Illustration 2: Consigned GoodsABC Co. consigned goods costing P10,000 to XYZ, Inc.Transportation costs of delivering the goods to XYZ totaledP2,000. Repair costs for goods damaged duringtransportation totaled P500. To induce XYZ Inc. inaccepting the consigned goods, ABC Co. gave XYZ IncP1,000 representing an advance commission. How much isthe cost of the consigned goods?

Given Consigned goods costing P10,000 Transportation cost P2000 Repairs P500 Advance commission…

2: Consigned Goods ABC Co. consigned goods costing P10,000 to XYZ, Inc. Transportation costs of delivering the goods to XYZ totaled 2,000. Repair costs for goods damaged during ransportation totaled P500. To induce XYZ Inc. in accepting the consigned goods, ABC Co. gave XYZ Inc P1,000 representing an advance commission. How much is The cost of the consigned goods?

2: Consigned Goods ABC Co. consigned goods costing P10,000 to XYZ, Inc. Transportation costs of delivering the goods to XYZ totaled 2,000. Repair costs for goods damaged during ransportation totaled P500. To induce XYZ Inc. in accepting the consigned goods, ABC Co. gave XYZ Inc P1,000 representing an advance commission. How much is The cost of the consigned goods?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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