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On november 1, 2018, asia pacific corporation established and agency in cebu city sending its merchandise samples costing p31,500 and a working fund of p18,000 to be maintained on the imprest basis. during the month, the agency transmitted to the home office sales orders which were billed at p128,760 of which 50% was collecte
d. on november 1, a home office disbursements chargeable to the agency is the procurement of office furniture costing p60,000 which is to be depreciated on a double-declining balance metho
d. the office furniture is estimated to have an economic life of 5 years. the agency paid expenses of p7,630 and received replenishment from the home offic
e. on november 20, 2018 the agency samples were valued at p20,150. the gross profit on goods shipped averages 60% of cost. how much is the net income (loss) of the agency for the month of november, 2018?
Sagot :
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