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The seller does not own the item, they are selling it for someone else. When the item is sold, they pay the person the money and keep a percentage.
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∙ 14y ago
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How do you record a journal entry for consignment sales?
debit consignment accountcredit consignment sales
What is normal compensation in consignment car sales?
lets say this nothing
How do consignment shops work?
Consignment shops help people earn money for they used merchandise. People that wish to sell their items take them to a consignment shop. These individuals tell the consignment shop what they want to sell their items for. The consignment shop will then place the item on their sales for sale. When the item is sold the sell will collect their money minus any fees charged by the consignment shop.
What is the average sales per day of a medium sized ladies consignment shop?
The average sales per day of a medium sized ladies consignment shop will vary with each store. I recommend visiting several stores to collect data and see what your calculations come to.
who has used patio furniture for sale?
I would suggest looking at consignment shops, tag/garage/yard sales too. As a matter of fact I have found pieces of patio furniture at consignment shops and for extremely low prices.
When is revenue recognised for consignment sales?
Revenue is recognized for consignment sales by the supplier after the retailer (whom the goods were delivered on consigmnet to) has sold those goods. So, if 100 items were consigned too a retailer by a supplier, and the retalier sells 20 of those items; then only the revenue from the 20 items sold by the retalier are recognized as income by the supplier.
What do you mean by a sales coordinator?
what do you mean by sales coordinatorwhat do you mean by sales coordinator
Can a consignment account be a balance sheet for each consignment?
yes
What do you mean by consignment?
The goods are sent to the agents for the purpose of sale on behalf of the producers and suppliers is known as consignment. The person wsho is consigning the goods is known as consignor or principal and to whom they are consignee or agent.
Can consignment dealers charge sales tax?
Only if 1) the dealer has a sellers permit which allows them to collect sales tax. 2) local or state law requires sales tax on sale of clothing Read more: http://411newyork.org/forum/index.php?showtopic=78656
How do you calculate the consignment stock?
consignment stock left unsold : **** + proportionate consignor's expenses : **** + non-selling expenses : **** consignment stock : #### ----
What is consignment software intended to be used for?
Consignment software is intended to be used in pawn shops and/or consignment shops. Pawn shops and consignment shops need a software that is capable of tracking 1000's of products a day and not losing information from people who bring their items to these shops. Consignment software is designed especially for pawn shops and consignment shops.
