0 ratings0% found this document useful (0 votes) 99 views5 pagesConsignment Q PDF
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content,
claim it here.
Available Formats
Download as PDF or read online on Scribd
Chapter 16
CONSIGNMENT
stn gos i od At
Meee pr ced ate CPA siamnation yah owence ne
some sam igiy Soe comparator sae
Ser sm moe
From eka pit vem, he ser of gods represent amen with
‘amir pry sh andes the ods prsesing he poe
rp fae a pct the eement een the spore a
ser godty ace cones Tor compere he comigror see
{er pms tuned we laters eae in oe gorse sold toa Tena
Up sche, amor rcognizes waar eto the phan te
ere fo th sl The cng, onthe eter band, cara eer cane)
fais ashi her opr ne there any Lay to the sport Wo
‘cooly fr imped pode The reach Betwcea the con a
ogee ion of principal and agen. andthe Iw of acy nem he
‘etermination of igh ad clips of the two pati. Therefore, ay tl
‘eds oclings poportnte share of neni cons nae eas
‘tod om eens te eosin) mtb faded in he cms
inven,
ACCOUNTING FOR CONSIGNMENT
Be facut esha rm sale mst be reopen
ihe tus of pod abt enacts dre cide. Consign
rattle nomi y te omsipnr when be comic eB”
‘Speke anos: Tha rome epi at he ie a
a 2
erecta iar cele hase
‘Consignment Pros are Separately Detemland
‘Whe ofan cng sao ede eae,
‘signet. This acme care oral ees tae be
hotbed ty the osanr nd reed a l poses om
‘oxtgmant wl The onion att on ome
Sepnatefevense scot ol the veing halrce Inthe
CComignnetin sco ears te oun toed fo he
‘ong seme
(0m the ote hand he consign: mani 4 Consignment at
ect foreach enigma Ths Sunt Ube rte sen
‘chante sipped eeu nd eral npc aed
{ote comignent tn in raed rues made y th con pes
Pri rn fm tigate wtiaty tater 3 om
hich ml ees means
ComignmetProfisare Not Separately Deter
When sespamem tmnt ae 16 be combed with replat
Act th coie's ein fr con ent al are
empty ein ding Purchases «ot of Gots So
(eee te comer fre cut be pid fore gee
ur Tie cones tet the consign» secon for epee
Tate essed bythe cnsger The vesting bine
ce we ts ts aca wed i a
‘ne tert he onsgnoeeconds consignment revenues and
Siamese cots ta uarne er operates[MULTIPLE CHOICE QUESTIONS
‘PROB 161 (AICPA)
“oosoncomiganes sd be itclud ia the inven of
1b Theconsiga tt a the consignee
Bie onsen and consis
2 Teco fs nt the cons.
& Niternecomgor norte conssnee
PROB. 162 (Adnped)
In acon rss consignment sales eve sl the eed
‘odes shoe sogied by ibe ca
‘2 Coaignar he theyode at hipped othe conn,
Come en en ae ped te pas
Congr when ifition i eed tha the ona hs
: has athe
4 Conse when cash ieceied fam the customer.
PROB. 163 (AICPA)
orsign Co. pid te intra
Se si insurane premium for consignment ols
thre Gomis Co. In abton. Connor avant of
when Consigce sels the yoods. Should Cosi
lalate he ira surnce
eae Tpemium and the advanced commision
foamed
anced
ma con
i ie Ys
e Yes =
a Ne Lal
Yee
pris Comet
spon. 16-4 (AICPA)
el Co. # consign. pid the fight st ar gus soe! ren Dale CO, a
aor, These Fig cons a ob deed fm pnt Bale
coming eosin goods =i Use ella th verte hap Ses
ibe inte in e's
Cost of goats wt
BFeighrout co
2 Selingeserse.
{Accounts oso
PROB. 165 UFRS)
“the Odessa Appice Cor lls sas oth po
Seis Odeee upp tenet sth pd sh als =e
Sec carga comatose
BU tachartousa el the ago eeagn ae petit ns e201
Qos _ Age
SS innar Eso
Baan 3s
a vom = ja000
PROB. 16-6(RPCPAY
itace, te consigned race efigeton to Ocamps's mpm, The
lt ep eaan he ong pd 0 fr gt ot, The
stiri oy elo cn ie Te units sd 3 7.700
se it follies rom he sling rice:
Fria Espen ty the conignor. On September 30,2015, Corn fost
Store recive fro Ross Store the mount of P142.020 in fl seen f
the tlace du, and Accouns Receivable wat credited for this snout Te
2 hae
& wo :
© 2064
4 3200
geome
‘08. 16-16 (AICPA)
ne Co had he floss consigment i
sone {an ie Deb
Inet hp come Banc,
Peep Son ne Pam
Imag eccescimiemen neice at
Frey Aso =
No sles of consigned gous woe made oath Dente 3,204 Sey
Decemier 208 faance ct shad le oa enn
12900,
i200
© 18000
4 500
‘Ron, 16-11 ICP)
(On November 30,2014, Non Ca csi 89 fe Wan Os
Sie 160 eh od P30 mene, rele
{ectved on December 3D, 2013 fm Watson epring halo 2a,
{ower with emince wa eo he age! 1% somo a,
‘Wahu mn soul Nonhup npn opment oe
_Dosenber December
. ‘7 3x00
& 0 220
eg °
@ 10 °
~