0
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 else can I help you with?
Sales revenue is recognized in the period in which?
Under the Accruals basis of accounting, Sales Revenue is recognised when it is earned and not when received.
Revenue on real estate sales is recognised when?
Revenue on real estate sales is recognized on the day you receive the monies for it.
How do you record a journal entry for consignment sales?
debit consignment accountcredit consignment sales
What is net cost?
sales sales revenue minus net sales revenue
Is sales revenue a revenue?
Yes it is.
What is the sales revenue if variable cost is 40000 and fixed cost is 30000 and break sale revenue is 40000?
Sales revenue = breakeven sales + Fixed Cost Sales revenue = 40000 + 30000 sales revenue = 70000 Prove Sales revenue = 70000 Less: V.C = 40000 Contribution Margin = 30000 Less:Fixed Cost = 30000 Profit (loss) = Nill
What is normal compensation in consignment car sales?
lets say this nothing
Why is IT personnel never recognised for their work in organisations?
Because they don't bring in revenue. Sales brings in tangible revenue. Sure, without IT they couldn't do it, but it's not visible. IT is an expense, like toilet paper. You can't do squat without it, but it's (usually) there when you need it.
Is the amount of sales tax collected on sales is recorded in the Sales Tax Revenue account?
combind revenue accounts
Could Sales revenue minus sales returns and allowances and sales discounts equals?
Sales revenue minus sales return and allowances and sales discount equals?
Is associated with the accrual concept of accounting?
Revenue is recognised when earned.
What is associated with accrual concept of accounting?
Revenue is recognised when earned.
