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  • Final Deptals ACCO FOR SPECIAL TRANSACTIONS

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    Lizette Janiya Sumanting
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    final-deptals-ACCO-FOR-SPECIAL-TRANSACTIONS

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    3 views9 pages

    Final Deptals ACCO FOR SPECIAL TRANSACTIONS

    Uploaded by

    Lizette Janiya Sumanting

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 9
    POLYTECHNIC UNIVERSITY OF THE PHILIPPINES College of Accountancy and Finance ACCO 30013: Accounting for Special Transactions 1 Departmental Examination 1:09 am Branch/Campus & Section: - “9 rtd alt after ar your eke im nance sheet pow atta nd allowed. Show all supperting computations in the worksheet provided. Always observe HONESTY. during the Part 1: Problem Solving (2 Points Each) 1. On January 01, 2023, AFAR Shopping Mall received from RRBR Trading 300 pieces of microwave ovens. AFAR was to scl hese on consigament at 50% above of original manufacturing cost per piece, and to reecive 13% commission nthe selling peice. Aer selling 200 units, AFAR baa the remainine uncold units repaired for some electrical defects and spent P2,000 for the sid repairs. 8888 Trading consequently increased the selling price of the remaining units to P330 per wit. On Januacy 31, AFAR remitted P64.980 to $888 Trading alter deducting, 15% commission, P8SD for delivery expenses of sold units, and P2,000 Tor the repair of 100 ‘nits. The manufacturing costs of consigned goods is P200 pér unit and shipping costs of P900 had been paid toship to AFAR Shopping Mall. All expenses in connection with the consignment Were reimbursable to the consign. Jn the published financial statements of 883 Trading, the value ending inventors of goods out ‘om consignment is: a, PR920 P8120 ©. P8620 4.P8,800 2 OnMecembcr 01, 2022, the AFAR Co, established an agency in Davao City, sending its merchandise samples.

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