07 - Revenue - Consignment Sales

-Chopfbr 7 Revenue Consrgnmenf Soles t. lntroduction ln some onongernenfs fhe delivery of the goods by the monufoctarer (wholesole r) to-the deoler (retailer) is not considered t9 be f u.ll perfonnonce ond o sole becouse the manufocturer refoins title to the goods. Ihis speciolized mefhod of morketingl certoin ty pes of producf mokes use of o device k'rown os o consignmenf. IJnder this onongemenf, the consignor (manvfocturer/ ships merchondise fo fhe consgnee (deoler), who ts fo oct os on agent f or the consignor in selling fhe meichondise. Both consignor ond consignee ore inlerested in selling - the former to moke o profit or develop o market, the lotter fo moke o cornrnission on the soles. il. Accounling for Consignmenl Soles A modified version of the soles bosis (regulorsoles) of revenue recognition by the consignor. Thoi is, revenue is recognized only ofter the consignoi receives notificotion of sole ond lhe cosh remiltonce from the is used consignee. The merchondise is conied throughout the consignment os the inventory of the consignor, seporotely clossified os Merchondise lnventory on Consignment. lt is not recorded os on osset on the'consignee's booksUpon iole of the merchondise, the consignee hos liobility for the net omount due the consignor. The consignor periodicolly receives from the consignee on occoUnlsoles thot shows lhe merChondise received, merchondise sold, expenses chorgeoble to the consignment, ond the cosh remiited' Revenue then is recognized by the consignor' 331 is 5. Consignee l.[x* crediled when remittonce b' consis nor . consignment tronsoctions recorded seporolely .iliJ irfi:Tfi. B.ffi ?j?.". Consignorreceivoble occountis: ot the consisnee but ff3ll'.i:'. 2.. :*. Conslgnmenl lronsoctions not recorded seporolely - consignment tronsoclions ore treoted like o regulor type of soles.nses reloted to consignment incurred by the consrgnor Reimbursoble expenses reloted to consignment poid by the consignee.under ihis method.H*ill. nn g.The following items ore procedures in consignmenl soles lronsoclion: A.:Ht l'r. Consignment tronsoctions recorded seporotely .n. Delerminotion of consignment profit is not required since it is olreody port of the profit of the entire enlity. An inventory occount colled os lnventory on Consignment is used to record lronsoctions in relotion to consigqment. consignment. Determinotion of consignment profit is not r6quired since it i: olreody port of the profit of the entire entity. Expe. '" ="'?:ii*$ikit#'. o lnventory on Consignment occounf is debffed for: Cost of goods shipped on consignment . two occounts ore needed to be mointoined in relotion to consignment tronsoctions: o.this method determines consignment profit seporote from regulor soles. . Consignor l. . debifed when remittonce Consignmenl tronsoclions is mode lo the consignor consignee mode by the consignor nol recorded seporotety - consignment lronsociions ore treoted like o regulor type of soles. 2. on consignment. lnc. .200 in tronsportolion co.500. How much net income did JBD reolize in August on the consignment? o. 4.Cousignntent On November 30.sts.000 Bruce Compony shipped 25 television sets to Lee. P144. Lee submitted the following summory of consignment soles: On June l.200 c. .500 net income P6.500 netloss 3. b. Sales November P 0 P 0 November December December c.000 for delivery ond instollotion of eoch set. JBD. Mogs store reported soles of 6 hondbogs of P6.1 2013. d.000 P27. 2. Using lhe some informotion in No. ond remitted the net proceeds due to JBD ofier deducting o 2OYo commission. b.Revenue l.000.000 P13. How much.000. . P14.200 0 0 On August . poying freight chorge of P3. P12. ?5.'Commission is to be 257o of the soles price.000. should Northup recognize os consignment soles revenue? o. b. A report of soles wos received on December30 from Wolson reporting the sole of 20freezers. d.000 eoch ond expenses incurred of 2.500.0oo eoch. The sets ore to be sold ot on odvertised price of P20. The cost of shipment poid by the consignor wos P7.500 net income c. The cost gf eoch set to lhe consignor wos PI0. ohd in whot monih.7OO net loss P6. At the end of the month. The remiitonce wos net of the ogreed l5% commission. lnc. consigned to Mogs Store l0 lodies hondbogs costing P3. whot is the iotol cost of inventory of unsold hondbogs: o.600 eoch ond poid P1. P142.2.000 P d.8@ P P32. togetherwith o remittonce of the P27. The consignor ogreed to obsorb the consignee's expenditure for freight ond olso to ollow the consignee P1. Northup Compony consigned 90 freezers to Wotson Compony for sole of Pl.2O0 bolonce due.200 Pr5. F7. On June 30. lune 3 PI P 5.. 25% of soles .000 6.five (5) of its opplionces to the ABC store on consignment.2013. on November 1.000 25.000 02. P 15.30 Soles. December3l.000 8.20l3 P19.500 is: .500 the profit for the consignor for the units sold: P24.000 53. P154. The cost of invenlory on consignment on o.500 c. Compute o. Regulor monthly collections ore mode by the consignee.000 PI Remiltonce enclosed Bolonce owed (colleclions from customers noi yel mode) 60. The consignee is to be entitled to 2O% of oll omounts collected on consignment solei." d. b. P150. d.000 poyoble P5. ABc Store sells three (3) opplionces in November ond one (l ) on December. 8 sets ot P20. b.000 P153.OO0.600 P24.000 c. d. The consignor poid shipping costs to the consignee totoling P5.000 in the month of purchose ond pl.0OO Chorges: Freight-in Deliveries ond instolloiion expenses Commissions.500 P157.000 40.500 per unit.000 P26. Eochlunit is to be sold ot P25. P27.000 r_ 14999 Compute the inventory volue of the units unsold in the honds of the consignee: o. ond oppropriote cosh remiltonces qre mode to the consignor of the end of eoch month. lhe western Applionce center ships.0o0 per month thereofter. 5.334 Chapter 7 Sets received 25 I Sel sold Sets returned to consignor (defective) Sels on hond t0 2 l5 .500 Pr 6. The cost of the opplionces shipped oy tne consignor wos P15.000 P70. b.000 c. 000 r.000 28.000 Pr8. P29.500 Remittonce to consignor o.000 After one month. b. 6.000 5. the totol omount remitted to consignor for the yeor 2013 is: i o.650 d.000 .000 P10. Abenson Applionce Center P12. 9.000 P205.000 21.500 P15.4O0 P 15.dmount of soles Less: Chorges .000 P436.000 Pr4000 Using the some informotion in No. d.000 275.000 i Tbtol P310. Using the some informotion in No. c. l0 P490.000 P210. the consignee rendered on occount soles os follows: Accounfs Soles SonyfVSet No. !i I i !: c !: :r I t $l o.5oo 3. nen t 'c. d. Comrnission (10% of soles) P280. P112.000 P206.000 280.000 49. income d. b. P3r 7.O0O net income Pl9. is: P5l .400 9. P l9. b.000 P 6. b.500 Net omount P187. t ir i I O.400 consigned to XYZ Morketing the following merchondise: Cosf l0 units of Sony LCD TV Set 5 units of Blu-roy DVD floyer Freight' P300. of units scrles DVD Plaver _____/_ . the cost of inventory on consignment is: i.550 nel : .Revenue -. 6. trs ign Sa .000 5.000 I13649q The net income (loss) on consignmenl of Sony TV set : Totol income c.500loss {PhitcPA) I i.s00 Cortoge-in P248.Co 7 . P23. B.1he profit on consignmeni for 201 3 ii': o.335 les Using the some informotion in No.500 nei P32. 000 from Jomes Bond compony.336 I l: ' Chapter 7 Generol compony consigned five computer equipmehts. d.120 14. d. Cosh discounts token by customen.200 on the freight of the shipment.ooo ond freight chorges of P1.2013. expenses opplicoble to goods on consignment ond ony cosh odvonced to the consignor ore deductible from the remittonce by lhe consignee.600 the some informotion in No.000 eoch ond one on credit ot Pl8. Xoviery Computers remitied ollthe cosh due.000 eoch. The omount remitted by Xoviery Computers is: o. The l5% commission is to be bosed on the occounts receivoble collected by the consignee. P16. n/30. Correspondingly. P34. ihe omount of inventory on is: c.000 P17. on lhe lost doy of the yeor.000 of which 25%wos collected os downpoyment. I l.080 P27.. Xoviery computers reporled thot it sold three of the computers: two for cosh of P15. 12. b. The consignment ogreement provided forq sole of merchondise on credit wilh lerms ot 2llO. b. wiih cosl of P8. to the Xoviery computers which wos to sellthese goods for lhe occounl ond risk of the former for o commission of l5% of selling price.500 P24.000 on the shipment.400 Pl r.680 ll. On July 15. Xoviery Computers poid P3. .200 hod been poid to ship the goods lo Jomes Lost Compony. 13. the consignmenl net income (loss) is: o.600 c. Using P13. d. b. The consigned goods cost Jomes Bond compony ploo. Jomes Lost Soles Compony received o shipment of merchondise wiih o selling price of P150.2W Pl2/W Pl3.500 P37. The Generol Compony poid trucking costs of p2. P10.IOO c. Pl8. consignment of Generol Compony o. Using lhe some informotion in No. 560 c. the consignee received the goods.000 eoch. the Helh Computers consigned 30 opple compuler units.000 P2.000 wos determined to be uncollectible.000 on the shipment. lnc. 201 3. The omount due from Abet.7A% of the shipment hod been sold.724 the netincome (loss) on consignment is: o.3@ U5ing the some informolion in No.000 to Jomes Bond Compony upon receipt of the shipment. o. On October 10. P2. the consignee mode the proper remiitonce.000 P2.000 wos poid by Jomes Lost.OOO . c. is: P23.880 P 8.l5. d. b. o soles ollowonce of P20.4@ P61.2013. The units were io be sold on either cosh or credii bosis of o commission of l5% of net soles. 2013. P.536.72O P22. costing P80. ollwithin the discount period. d. P I. By August 20rc. 2013.280 PI3. The cosh remitted by Jomes Losl Compony o..360 P3O. Remittonce of lhe omount due wos mode on Augusl30. September2T:12 units on occount of P140.Revenue . Soles were mode os follows: September I 5: l0 units for cosh of P I 3O. b. P2. P14. d.000 P30. Expenses of P8. lnc. Pl1. b.980. On October I l. On September I l.446.730 The cost of unsold units in the honds (merchondise on consignment) of Jomes Losl is: I o.890.000 wos given to o chorge customerforo defective unit. I6. o receivoble bolonce of P70. c.000 eoch.OOO eoch.Consignnrent 3i7 Sales Jomes Losl Compony ddvonced P60.860 17: On September 5. 15. 14. On September 30. d.000 is: c. ond BO% of the resulting occounts receivoble hod been collectbd. to Abet. b. The consignor poid freight of P18. 2013.B4O P31. The cosi of eoch oirconditioner is P10.400 due to condoro Mfg. Componyconsigned twenty (20) oirconditioners to Coolrite.800 The cost df inveniory on consignment is: o. 49O 500 21. Condoro Mfg.000 P484. the consignment profit (loss) is: P554.lB.@0 c. P464. 19. The remittonce wos net of ihe following deductions from lhe selling price of the oirconditioners sold. Accounts Receivoble wos credited for this omounl. b. The number of pencils sold by Mongolion Store is: o. odvertising. 17.000 20. ond cortoge cost incurred upon receipt of lhe consignmenl shipment.800 P708.000 P644. Mongolion Store remitled P35.800 pencils costing P60 eoch ond retoiling for Pl00 o unit were consigned to Mongolion Store. Net remittonces of the consignees ore credited to Accounts Receivoble. 15% of the selling price. . On December. Freight cost of PB00 wos debiled to Freight Expense by the consignor. "compony. P664.000.8@r c. P1. subsequently submitted on occount soles sloting thot it hod sold twelve oircondilioners. ls% of commission. Allcosts reloting . b.000 P672. b. The consignee deductecl o commission of Pl0 on eoch pencil sold ond P45 for delivery expense. Soles. commission. d. d. On December 31. lnc.600.505 to Mongol Compony in full settlement of the bolonce due. delivery ond instollotion of oirconditioners sold. Compony in lhe omount of p4. debiting Accounts Receivoble for the retoil soles price of the pencils consigned ond crediting lo lhe consigned pencils ore debited to expenses of the cunent occounting period. . Using the some informotion in No. Coolrite. lnc. o. 355 39s c. Mongol Pencil Compony consigns pencils lo reloilers. P640. P600. ond remilted the bolonce of p196. d. ond the freighi on the shipmbnt wos poid by Condoro Mfg.OO0. 375 . the bolsnce fullsetilement of o P20 commission for eoch book deducted The consignee for this cmount.424 . Commission ...200 books.Consignment 339 Sales How much of the net income/ loss of Condoro Mfg. b. ln September 20i3. Compony on the obove consignment? o.776 1..500 sell of to ore odverlised Rosoles Corporolion delivered 150 both The consignee is lo be ollowed o commission of 15% of the selling price.000 P 74. d..eight cost of P32O0 was for ond crdditing 5oles Expense by the consignor.. 1.. 1. costing 00 eoch lo ReSA Siore.. The consilnment ogreemeni olso stoted thot the consignor would drow o sight droft on the consignee for 6O% of the cosi of lhe woler heoters.|. c.. Fr. All expenses of the consignee ore to be deducted monthly os incurred.020 in received Cononon Bookitore ond Accounts Receivoble wos credited due.. P1B0 for delivery. debited lo Freight from ReSA Store the omount of P142. d. bosis to Bouiislo eoch' P1.. ? 72.240 Pl 1 1. on seplember 30.. .. ond they heoters woter These Compony.. omong other ihings. p60 ond retoiling for PI How mony books were octuolly sold by ReSA Store? o..397 (PhilcPA 1990) 22..778 c. the following informotion: The consignee rendered Advertising Delivery expense. b. in proportion to lhe number of units sold.125' 3. (PhilcPA 1990) woier heoters on consignment cost P900 eoch. debiting Accounts Receivoble the retoil soles price. on occount soles of the end of the first month showing.. The odvonce sholl be recovered periodicolly by the consignee through monthly deductions.400 P 74.780 |.. qnd expense' odvertising for P200 sold.Revenue .... 2013. Cononon Bookstore consigned 3..... from the remittonces which occompony the monthly occount soles... 750 . b. 23.f]oq. 24. d. 23. b. "'- o.Boutisto compony otlhe. b. P7.375 c. how much wos remitted to the consignor by.monV units of wqter heoters were sotd by Boutisio Compony during the first month? o. P2. d.6fi P6. 15 units c. !:ig(loss) net of Rosoles Corporotion during the first month? o. 20 units 25 units 30 units Using the :oT9 informotion in No. P5:625 Fg.5W Pt5. . how much wos the consignment 4.ooo . c. P22.end of lhe first. d.month? -.5ffi P3.7fi lhg sglne inf6rmofion in No. the soles revenue equivolent to the number of freezers sold (i.000 1. b 10. o b b d 2...200 L_6. 5. b d d b b 22.Revenue * l.. 2. Pl8..000 2.. rB. A consignment does not transfer ownership of lhe goods to onother person who is to sell the goods but the owner retoins title lo such goods until the consignee mokes o bono fide sole. \7.. 3.. Since the soles of twenty (20) freezers were mqde in December by the consignee (Wotson)..000 P36.. (b) Consignment Soles: P6... 15..sqq compuied os follows: Pr2.000 x 6/10 Consignee Expenses Commission:2}% x P36.000) by the consignee should be recognized by the consignor. b d c o d 16. l.. therefore..200 P13.. c o 21.e.b 7.. 23... 20. 14... Less: Applicoble costs ond expenses rdloted to consignment soles: Consignor: Cost of goods sold: P3.000 Net income 3. 13.800 Freight: P3.000 x 6.600 = P32.. 34t Consignment Sales c 6. o 24. c I l. c 25.. 20 freezers x P1. 19.200 : . (b) The inventory on consignment omounted to P13.. 12.000 Freightout: 4/10 x P3. 4.500 n. o (o) A'sole tokes ploce when there is o tronsfer of ownership of goods.5@ 7.200 Cost: 4 x P3. d B.000 x 6.000 1..b 9... .50o 1...000 consignment omourited to pl6.000 Pr6.000 Pr33..500 t * 5.OO0 per set) .000 (b) The inventory on r 33.s00 computed os follows: Chorges Ano/ysis Soles f4 sefs) Chorges by consignor: Cost of consigned goods (@P 15.4..500 P102.000 8. for consignmen? occounling where lhe treonsfer of merchondise if from consignor lo consignee.000 lnventory fotol ll sef/ {5 unils/ Pl5.500 P290.chorges reloling to consignment soles (refer lo No.000 Net income P 27.000 4.000* 3. lhe lerm "freight-oui" is synonymous to "delivery expense': which is clossified os selling expenses if we ore deoling wilh o lhhd porty.OOO P157.000* 8.. * Normolly. (c) The consignment net income 6.5oO 5.500 3..000 Freight-oul (P300 per set| Chorges by consignee: Freighl-in (P200 per set) Delivery ond instollotion sell Tolol P150.000 P77. 4) . omounted top2l.000 O 4O.000 4...oo0 computed os follows: Consignment Soles (8 sets x P20. Freight on sels returned is chorged ogoinsl soles of the period.. Commissions 125%ol soles (8 set5 x P20. the usoge of the term'Treight-out" does not construed lo be o selling expens-e but still on inventorioble cost (which is porl of freight-in).500 computed os follows: Chorges Anolysis ' setsJ Soles (8 Chorges by consignor: Cosl of consigned goods .000 -rq4499 20. (@P10.000 0 40. Pr160.000/set) P 80. Less: Applicoble cost ond expenses . (d) The inventory on consignment omounted to p 152.500/set) Shipping cost Chorges by consignee: P62.000 x 4)l 20.000.500 2.000 per lnventory {15 setsj 5.000 7. But.@0 .000 Totol I25 sets/ P230.500 Commissions 120% Totol ot soles (25.. ..09q T. ..000 x 7/10) .. 12O7" 9.550 P206.000 5..000 Less: Commission 4......400 computed os follows: Colleclion in 2013: Novembersoles-3unils November downpoyment (3 units x P5.'........450 P 32..000 P280..000 Add: Freighl: TV:3/10 x P10....500 inventory of Totol cost 1.000 28....450 245.'.650 ..500 x 7 / 10) r 15....' 86..... P 18.'..000 2. (d) ihe consignment nel income omounied to P14......... Totol collections ..000 Cortoge-in: TV:3/10 x P3.000 P 23. {c} SonyIVSef DVD PlaYer Totol Cosi of goods.500 DVD ployer: 2/5 x Pl.'. Freight (P10.........000) Cor.000 7....."...000 P210...000 per Less: Applicoble cost ond expenses: chorges reloied lo ionsignment soles (refer lo No.000 P200. P 3..:....000) Totol remiltonce ..000 DVD ployer: 2/ 5 x P90...000 2.0a 600 Pl r 2.. Cost of goods sold (R300....Consignment 343 Sales 7..O0O) ....000 computed os follows: unit) Pl00'000 Consignment Soles (4 units x P25..000 x 7 llOl Commission (10% x P280....050 re4.toge-in {P3..600 ot soles x colleclions of 'P23..400 (b) bonsignmenl soles (given epr problem) ..chorges reloted to consignmenl soles: ..... (b) in" totot omount remitted omounted to PI8. !-14.. 5) ....'......000 DVD ployer: 2/5 x P5.000 3.'..000)....000 P27 5.sold: TV: 3/10 x P300...600 1..000 Nel income B..000 5.OOO Pl10..:... December inslollment (3 units x P1.000) Decembersoles-l unil December downpoyment (l unit x P5..550 Net income t l I 10..' Less: Applicoble cosi ond expenses ...\ Revenue .... 320 Totot (s) .000 34'320 P 13..--.. -""""....:.P40.000 4.... Cosh remiited by Jomes Lost Compo...200 7...4oO i I i i 1 r3..OoO . ission (p84... P48.....chorges reloting to consignment soles (refer io toble bel6w .. P3.200 1........ Net income.680 computed os follows: Consignmeni Soles Less: Applicoble cost ond expenses .--........... I (o) ih....000 x2) .. .200" PI8.200 7.:.. 12tor further compulolion.000 P24...000 x2S%l Toiol collections P30.200 10.O0O x70% x8O%) ..iO0 computed gs follows: Colleciions mode from: Cqsh solei (P15....280 0 |..000 x2%l I. (c) - t refer to No.....680 P82....... Less: Advonces.-...T2lcomputed os follows: Gross cottOction (pl50...500 P34..........000 2..000) x t5%..:..400 Totol remittonce 12..72O io...tOO (d) The consignmeni net income omounted to pl3. totot omount remitted omounted lo pl.000 3....000 + p18.. 14..200 P52.... (b) The totol omount remitied omounted to p24... Credil soles (P18.920 7. P24...... I P84...OOA 800 1..080 P34.F 1 t..OOO p6l .000 x 15%l uue to consignor... Less: Cosh discounl token by customeri (pg Nel collection ...'"""' Les: Chorges:" ....500 Less: Chorges: Freight Comrnission (P30.OOO 1xpenses.680 Chorge Anolysis ' lnventory (2) Soles Chorges by consignor: Cost Trucking cosls Chorges by consignee: Freight Commission Totol (3) Pl6.......r* I ..320 p 1 j i g. 000/unit x l2 units) + (P130.200 P640....OOO ...000 70. Less: Soles .....000) x l5%l Tolol - lnventory Totol (s0) ....000 (d) ..680 TotEl 16..OOO P2.000 !44.000 P20..680 computed os follows: Consignmerni Soles (PISO...760.OOO P2.... r8.307.. 17.800 0 0 0 1644. .chorges reloling to consignment soles {refer to toble bekrw) -.800 r 8.8OO computed os follows: Consignmenl Soles (refer lo No...Revenuc r5....2.r....446.000 360 8...200 Net incorne r.980.750 Commission {PI05.000 20..000 Amount due from Abel... (s0%) (100%t Soles Chorges by consiEnor: Cosl Freighl Chorges by consignee: P70..000 70.630 refer to No.Consignntent Sales 34s (d) The consignment net income omounied to Pl3.... (d) on credil [(P140....000 70.OOO Less: Applicoble cost ond -expenses ..980...8A0 Chorge Anolysr:s Soles (22) Chorges by consignor: Cost Freight Chorges by consignee: PI Soles ollowonce Doublful occounls Commission [(P2...000 P20.200 8. 2. 96...000 4.444.....AOO s34.......i.090 P2..980.990. l5 for further computotion. Soles ollowonce Doubiful occounls Commission [(P2........000 840 P30. - P20.... (b) - zu49 1....680 P30.9.r.000 P2. lnc..000 P]00.000 15%] .270 Net income P 8..360 P129.750 1.000 ....307. 17) P2..000 15...000 20...000 r 3. 44!.730 Chorqe Anolysis tnventory Totot (70%) . P......000 x l5%) Cosh discounls (PI05.000 x80%x2%l 1..000 Expenses 0 0 0 15.000/unii x l0 units) ......chorges reloling 1o consignmenl soles {refer to tqblo below) ..The consignment net income omounted toP672....000) x P2..000 Less: Applicoble cosl ond expenses.6?2..OOO x7O%l PIOS.400. 400 350 1.400+PI. 12120 Cortoge: P600 x l2/2O..O4O + p20O + pl80 = f. P? 200 180 Delivery expense Remiltonce ? P!_42pn Therefore: Pl0O X .400 | 65...500 Soles = P39..500 / pl00 per unit = P395 units sold 21.505 .600 36..:.000 x l2 Freight-oul: P4.90 x = P35.......000 Nel income 22" Pr 20.000 x...19..600+P600 or P198. 20. = PI42. = p142A@/pAO unirs sorJ = l:133 P8O X P142.{15%x 157"1 Less: Applicoble cost ond expenses ....@0 Adverlising: l57o x P36.040 P80 X... (c) Consignment Soles: PI96.....6@/..000 s..P2O X - P2O0' Pl80 = pt 42... Delivery ond inslollotion Commissions: l57o x P240.505 Therefore: x-.000 lffi%- 157".500 x = P35.9O x = P39.500 Units sold = P39.5fi/.4OO \ i i I I j I i I .chorges reloling lo consignment soles: Cost of goods sold: P10. P l0%x 45 Remitlonce P35.825 P240..240 (o) PIOO X Commission (unknown) Advertising (P2O x X) .000 2.10x-P45=P35.760 P 74. Commissions PSOO .Revenue 23........ - 347 Consignment Sales (o) Selling price per unil ... Muliiplied by: Number of unils sold . 24....... (c) Soles: Less: l5 unils x Pl"50O Chorges by consignee Advertising Commission P3..... Less: Applicoble cost ond expenses * Chorges tncome 225 P22....250 ........ .....................500 Pl3........375 P P22................:.. Amount remilled lo the consignor by Boulislo Compony 2s....375.... 225 l5 P2. Delivery expense ........2sa P 2...375 20..ropplicoble to units sold: Advonce per unil: P900 x 607o....................... | .. Divided by: Commission per unit ............250 3.... Number of units sold...........500 .. Mulliplied by: 7o ot commission P1..........5OO ........ 1........:..650 (o) Consignmenl Sole: l5 units x P1.. Delivery.500 .125 3...........100 P7.... 6....750 P15...."..........:.750 iS 8............500 Commission per unil P I 57" Number of units sold by consignee: Tolol Commissions reporled . reloting to consignment soles: Cosl of goods sold: l5 unils x Advertising: ......................125 Amounl due to consignor Less: Advonces...... 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