On August, 2019, KBO consigned to UFO 10 laptops costing P15,000 each, paying freight charge c P15,000. At the end of the month, UFO reported sales of 6 handbags at P30,000 each and incurre expenses of P12,500 and remitted the net proceeds due to KB0 after deducting a 20% commissic the sales price. 1. How much net income did KBO realize in August on the consignment? A. 37,500 income C. 33,500 loss
On August, 2019, KBO consigned to UFO 10 laptops costing P15,000 each, paying freight charge c P15,000. At the end of the month, UFO reported sales of 6 handbags at P30,000 each and incurre expenses of P12,500 and remitted the net proceeds due to KB0 after deducting a 20% commissic the sales price. 1. How much net income did KBO realize in August on the consignment? A. 37,500 income C. 33,500 loss
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 24E: Spath Company borrows 75,000 by issuing a 4-year, noninterest-bearing note to a customer on January...
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