Docsity
Docsity

Prepare for your exams
Prepare for your exams

Study with the several resources on Docsity


Earn points to download
Earn points to download

Earn points by helping other students or get them with a premium plan


Guidelines and tips
Guidelines and tips

Sales and Profit Analysis for Consignment Business, Exercises of Advanced Accounting

Solutions to calculating net profit and consignment profit for a consignment business based on given sales data and deductions. It includes examples of sales calculations and deductions for electric fans, chocolates, and other items.

What you will learn

  • How to calculate consignment profit for a specific item?
  • How to calculate net profit for a consignment business?
  • What are the deductions for a consignment business?

Typology: Exercises

2020/2021

Uploaded on 11/28/2022

danestibayan
danestibayan 🇵🇭

4 documents

1 / 2

Toggle sidebar

This page cannot be seen from the preview

Don't miss anything!

bg1
Nicaellah Danes L. Tibayan BSMA 4-1 BMA25 November 9, 2022
Solution:
1. A. 3,815
Sales (7,700*5) 38,500
Less: Deductions
Cost of electric fans (6,000*5) 30,000
Freight [(720/6)*5] 300
Commission (38,500*10%) 3,850
Marketing Expenses (3,850*10%) 385
Delivery and Installation (30*5) 150
Total Deductions 34,685
Net Profit of Consignor 3,815
2. B. 34,115
Sales (7,700*5) 38,500
Less: Deductions
Commission (38,500*10%) 3,850
Marketing Expenses (3,850*10%) 385
Delivery and Installation (30*5) 150
Total Deductions 4,385
Net Profit of Consignor 34,115
pf2

Partial preview of the text

Download Sales and Profit Analysis for Consignment Business and more Exercises Advanced Accounting in PDF only on Docsity!

Solution:

  • Nicaellah Danes L. Tibayan BSMA 4-1 BMA25 November 9, - 1. A. 3,
    • Sales (7,7005) 38, - Cost of electric fans (6,0005) 30, Less: Deductions - Freight [(720/6)5] - Commission (38,50010%) 3, - Marketing Expenses (3,85010%) - Delivery and Installation (305)
    • Total Deductions 34,
    • Net Profit of Consignor 3,
        1. B. 34,
    • Sales (7,7005) 38, - Commission (38,50010%) 3, Less: Deductions - Marketing Expenses (3,85010%) - Delivery and Installation (305)
    • Total Deductions 4,
    • Net Profit of Consignor 34,
      1. C. 1, Solution:
  • Sales (400/25%) 1,
  • Less: Commission
  • Amount Remitted by Jai 1,
      1. A.
  • Sales Price 1, - Cost of chocolates (1008) Less: Deductions - Freight [(75/25)8] - Commission
  • Total Deductions 1,
  • Consignment Profit
      1. C. 1, *No. of Units sold = Sales Price/Price per Chocolate = 1,600/200 = 8 chocolates
  • Cost of chocolates (100*15) 1,
  • Freight [(75/25)*15]
  • Cost of Inventory on Consignment 1,