Business, 27.04.2021 21:20 ScienceSmartie
On January 1, Year 1, an entity sold a product to a customer for $64,751 payable 36 months after delivery. The customer obtains control of the product at contract inception. The cash selling price of the product is $50,000. This price is the amount that the customer would pay upon delivery at contract inception assuming the same product is sold under otherwise identical terms and conditions. The contract includes an implicit interest rate of 9%. What amounts of revenue and interest income from this contract, if any, were recognized by the entity in Year 1
Answers: 3
Business, 22.06.2019 09:00
Your grandmother told you a dollar doesn't go as far as it used to. she says the purchasing power of a dollar is much lesser than it used to be. explain what she means. try and use and explain terms like inflation and deflation in your answer.
Answers: 1
Business, 22.06.2019 14:50
Prepare beneish corporation's income statement and statement of stockholders' equity for year-end december 31, and its balance sheet as of december 31. there were no stock issuances or repurchases during the year. (do not use negative signs with your answers unless otherwise noted.)
Answers: 2
Business, 22.06.2019 21:40
Rebel technology maintains its records using cash-basis accounting. during the year, the company received cash from customers, $43,000, and paid cash for salaries, $23,500. at the beginning of the year, customers owe rebel $1,000. by the end of the year, customers owe $6,600. at the beginning of the year, rebel owes salaries of $5,600. at the end of the year, rebel owes salaries of $3,300. determine cash-basis net income and accrual-basis net income for the year.
Answers: 2
Business, 23.06.2019 00:50
Janis owns and operates a store in a country experiencing a high rate of inflation. in order to prevent the value of money in her cash register from falling too quickly, janis sends an employee to the bank four times per day to make deposits in a interest-bearing account that protects the store's revenues from the effects of inflation. this is an example of the (menu costs/ unit of account costs/ shoesleather costs) of inflation. pick one
Answers: 3
On January 1, Year 1, an entity sold a product to a customer for $64,751 payable 36 months after del...
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