The Consignment Out account of Jackie Department Store is shown below:
CONSIGNMENT OUT
For goods shipped to consignee:
For account sales by consignee:
Cost of 24 pcs. Boys’ clothes
₱ 4,800
20 pcs. Boys’ clothes
₱ 6,300
Cost of 48 pcs. underwear
7,680
30 pcs. underwear
7,500
Freight and handling costs:
Boys’ clothes
1,080
Underwear
2,000
The commission on both types of goods was 15% of the selling price. All of the account sales were accompanied by checks for correct amounts. There is one account sale on hand which had not been recorded on the books of Jackie. It shows that no consigned goods had been sold but the freight and handling costs of P150 applicable to underwear had been incurred by the consignee.Compute the amount to be remitted by the consignee. Compute for the consignment profit
Please show your good accounting form for the solution. Thank you!
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