Use the Following Information for Questions

question 377

Short Answer

Use the following information for questions. On April 1, Harmonica Corp.consigned 50 handcrafted benches to Organ Co.Harmonica's cost was $350 per bench.Total freight costs were $700, which were paid by Organ.On August 1, Harmonica received a cheque for $14,100 from Organ which included the following information: Revenue Recognition 6 - 21
-The inventory of benches will be reported on whose statement of financial position and at what amount?

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Definitions:

Water Flow

The movement of water through a particular path, often controlled or measured in systems related to plumbing, irrigation, and hydrology.

Properly Calibrated Instrument

An instrument that has been adjusted or configured correctly to ensure it meets the required accuracy and performance standards.

Instrumentation

The science and practice of measurement and control of process variables within a production, laboratory, or manufacturing area.