Farm machinery and ships to dealers, Accounting Basics

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Farm machinery and ships to dealers

Retool overhauls farm machinery and ships to dealers on a consignment basis. In 2006, Retool sends refurbished tractor to SEMO asking for $8000 and holding title. The cost of the tractor was $6500. SEMO sold the tractor in 2007 for $10,000.
Answer the following:

RETOOL SEMO
2006 2007 2006 2007
Revenue: ___ Revenue:
Gross Profit ___ Gross Profit

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Accounting Basics: Farm machinery and ships to dealers

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Accounting Basics: Farm machinery and ships to dealers

Reference No:- TGS0710054

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Prepare a bond amortization schedule

Q : Describe the role of the various stakeholders

Q : What is the total net effect of errors on mystical

Q : How many physical units have to be accounted

Q : Farm machinery and ships to dealers

Q : Discuss a production cost report for the month

Q : From the company perspective

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Q : Calculating labor and overhead variances

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Farm machinery and ships to dealers

Reference No:- TGS0710054

Recent Questions Asked Accounting Basics

Q : Prepare a bond amortization schedule

Q : Describe the role of the various stakeholders

Q : What is the total net effect of errors on mystical

Q : How many physical units have to be accounted

Q : Farm machinery and ships to dealers

Q : Discuss a production cost report for the month

Q : From the company perspective

Q : What does this suggest to you about the number

Q : Calculating labor and overhead variances

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