a. How much revenue should Apex report on its Income Statement of 2011? Also give the reason.
Ans:
The income of the Apex consignment is 500,000. Apex consignment is a middle man who receives the commission from the seller by selling their items. In consignment, all expense born by the middle man is on behalf by the seller, which is why Apex consignment's income for the year 2011 is 500,000. Whereas the question of cost of goods sold, it's from the side of manufacturing concern and Apex consignment is not a manufacturing concern. So the report of income statement of the Apex consignment will be 500,000.
On Mon, Nov 5, 2012 at 8:54 AM, Sahar Afshan <shaam.o.sahar@gmail.com> wrote:
FIN623 GDB_Idea Solution Fall 2012
Please find attached file....
Its mine idea, Please all relevent subject members do participate and discuss it in this thread...Thanks...--Regards...█▓▒░ Sahar Afshan░▒▓█MBA - (HRM & Finance )
--
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█▓▒░ Sahar Afshan░▒▓█
MBA - (HRM & Finance )
We say, "Be one as Pakistani Nation and grow up for Pakistan's Future". Wish you all the best. Join www.vuaskari.com,
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