1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
yuradex [85]
3 years ago
9

Goods held on consignment are Select one: a. included as part of no one's ending inventory. b. included in the consignee's endin

g inventory. c. kept for sale on the premises of the consignor. d. never owned by the consignee.
Business
1 answer:
Serhud [2]3 years ago
5 0

Answer:

d. never owned by the consignee.

Explanation:

The consignor is the business that gives merchandise to the consignee so that it can sell it. The consignor is the owner of the merchandise that is given in consignment, not the consignee. This merchandise must be reported in the consignor merchandise inventory in the balance until it is sold. Once it is sold, an accounts receivable is created.

You might be interested in
In 2020, the Merkel Company had revenues of $2,600,000 and costs of $2,100,000. During 2021, Merkel will be introducing a new pr
Leona [35]

Answer:

$88,000

Explanation:

We know that

The operating profit = Revenues - cost

                                  = $2,600,000 - $2,100,000

                                  = $500,000

If there is increase, so the operating profit would be

= Revenues - cost

where

Revenues = $2,600,000 + $260,000

                 = $2,860,000

Cost = $2,100,000 + $172,000

        = $2,272,000

So, operating profit is

= $2,860,000 - $2,272,000

= $588,000

So, the increase in operating profit would be

= $588,000 - $500,000

=  $88,000

6 0
3 years ago
Which of the following statements regarding capital gains and losses is false? A. Jake, the sole shareholder of Peach Corporatio
KatRina [158]
The answer should be is 100000 i think let me know
4 0
3 years ago
On January 1, 2010, the balance in Tabor Co.'s Allowance for Bad Debts account was $13,085. During the first 11 months of the ye
ch4aika [34]

Answer:

(a) What was the total of accounts written off during the first 11 months?

bad debts written for the first 11 months = allowance for bad debt accounts January 1 balance + bad debt expense - allowance for bad debt accounts November 30 balance = $13,085 + $21,937 - $9,919 = $25,103

(b) As the result of a comprehensive analysis, it is determined that the December 31, 2010, balance of the Allowance for Bad Debts account should be $9,450. Show the adjustment required in the journal entry format.Allowance for bad debt Debit $Bad debt expenses Credit $

to determine the amount of bad debt expense that must be adjusted, we must subtract the estimated balance in December 31 from the balance in November 30 = $9,919 - $9,450 = $469. Since the November 30 amount is larger, it means that we over estimated our bad debt expense and it must be reduced:

Dr Allowance for doubtful accounts 469

    Cr Accounts receivable 469

6 0
3 years ago
Concord Corporation produces 5000 units of part A12E. The following costs were incurred for that level of production: Direct mat
mart [117]

Answer:

b. $85,000

Explanation:

First, we should prepare the analysis of cost savings if the company buys outside.

Analysis of cost and savings

Purchase (5,000 units × $68) = ($340,000)

Savings

Variable cost = $80,000

Fixed cost = $175,000

Net income effect

($85,000)

The effect is a decrease in net income by $85,000.

7 0
3 years ago
I have an iPhone 11 pro, and I blocked a user about a week ago but they are still able to call me. I double and triple checked t
coldgirl [10]

Answer:

You should call the place your phone is connected at like metro pcs,at&t,cricket,sprint and report the number

Explanation:They will know what to do

7 0
3 years ago
Read 2 more answers
Other questions:
  • Anthony Inc. reported net income of $270,000. Beginning balances in Accounts Receivable and Accounts Payable were $17,000 and $2
    5·1 answer
  • Why do individuals have rights when they are accused of criminal acts?
    7·2 answers
  • People are often influenced by reference groups to which they do not belong. ________ refer to groups to which an individual wis
    12·1 answer
  • Tony works as a salesperson at Franklin Delights, a company that specializes in labor-saving kitchen appliances. When Tony gives
    15·1 answer
  • The assets section of a classified balance sheet usually includes the subgroups: Multiple Choice Current
    8·1 answer
  • "A 25-year old client with a low risk tolerance wishes to invest in bonds. The client has invested in equities before, but has n
    8·1 answer
  • A client with a high risk tolerance anticipates that the market will remain flat for the next 3 months. Which position would pro
    8·1 answer
  • Your generous grandmother has just announced that she’s opened a savings account for you with a deposit of $10,000. Moreover, sh
    6·1 answer
  • Crystal Displays Inc. recently began production of a new product, flat panel displays, which required the investment of $1,500,0
    12·1 answer
  • An account used in the periodic inventory system that is not used in the perpetual inventory system is?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!