On December 1, Alt Department Store received 505 sweaters on consignment from Todd. Todd’s cost for the sweaters was $80 each, and they were priced to sell at $100. Alt’s commission on consigned goods is 10%. At December 31, 5 sweaters remained. In its December 31 balance sheet, what amount should Alt report as payable for consigned goods?
Pahn, a nongovernmental not-for-profit organization, received an unconditional pledge of $50,000. The donor stipulated that the pledge must be used in the next fiscal year. Pahn received and spent the $50,000 in the next year. For the current fiscal year, what element of Pahn’s statement of financial position will increase as a result of the unconditional pledge?
“all but 5 sweaters remained” I know that it is pretty easy to understand that 500 were sold, so why can't they just say “500 were sold” ay yi yi I hate the wording of these questions. SO DUMB
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