oriental Rug Company ships six handmade rugs valued at $5,000 each on consignment to Consign Design. oriental Rug Company pays $1,000 of shipping costs and agrees to accept the return of any rugs within six months of the shipping date. oriental Rug Company also agrees to pay Consign Design a commission of 10 percent for any rug sold. At the end of five months, Consign Design has sold four of the rugs for a total price of $38,000.

The total inventory and revenue value reported by Consign Design at the end of the five months is: _________

Answers

Answer 1
Answer is :

0, 3,800

Explanation:

In a Consignor/consigned relationship, the consignor maintains the inventory on the books. The consigned does not record the full revenue amount, but rather a commission based on the agreement with the consignor. In this case, even though two rugs have not sold, the two rugs that remain unsold are reported on the books of Oriental Rug Company (the consignor). The revenue recorded on Consign Design's books from the sale of the four rugs is based on the agreed upon commission of 10 percent; therefore, $3,800 is the revenue recorded. The $34,200 (90 percent of the total sales) is the payable to Oriental Rug Company and will be recorded as revenue on its books.
Answer 2

The total inventory and revenue value reported by Consign Design at the end of the five months is: 0, 3,800

What is Consignor or consigned relationship?In a Consignor/consigned relationship, the consignor maintains the inventory on the books. The consigned does not record the full revenue amount, but rather a commission based on the agreement with the consignor. In this case, even though two rugs have not sold, the two rugs that remain unsold are reported on the books of Oriental Rug Company (the consignor). The revenue recorded on Consign Design's books from the sale of the four rugs is based on the agreed-upon commission of 10 percent; therefore, $3,800 is the revenue recorded. The $34,200 (90 percent of the total sales) is payable to Oriental Rug Company and will be recorded as revenue on its books.

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Answers

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Answers

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Answers

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Explanation:

i took the test

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Answers

The equilibrium of the demand and supply can be achieved at a price of $9.

What is the equilibrium position?

The equilibrium is the position in the market where the demand curve and the supply curve intersects with each other at a particular point of price. At the point of equilibrium the quantity supplied and the quantity demanded are the same.

As per the graph, the demand curve shows the quantity demanded in the market at various prices in dollars while the supply curve shows the prices at which each quantity is supplied in the market.

Therefore, after examining the graph the point of intersection is at the point having the Dollar price of 9.

Learn more about equilibrium, refer to the link:https://brainly.com/question/12315301

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Answers

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Explanation:

hi

Imagine that you are the mayor of your town. In an upcoming election, you would like the citizens to vote yes for a gambling establishment to locate in your town. Prepare a short speech encouraging the people of the town to vote yes on your proposal. (8-10 sentences)​

Answers

Answer:

Although Gambling is a bit of a controversial topic, there are many upsides to the activity. The biggest problem many see with gambling is the chance of becoming addicted. Addiction is a state of mind. If you feel that you would easy become addicted, don't partake. Gambling doesn't have to be an addictive activity. Just like any activity, it is designed for fun and gain. Of course, there will be instances where you will lose, however; it is apart of the sport. As long as you are careful, you will be okay. To encourage more activities in this town, please, vote yes.

Explanation:

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