E 6.09 – Thomas Consultants
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Given the flat fee, the additional fee, and the cost savings percentage… find the transaction price and the expected amounts.
Given the flat fee, the additional fee, and the cost savings percentage… find the transaction price and the expected amounts.
Create the journal entries to record the transactions.
Given the payment due at a future date, and the interest rate… prepare the journal entries.
Given the market value and the interest rate… prepare the required journal entries (4).
Find the stand-alone selling price of the installation service using each of the approaches.
Asks when the contractor should recognize revenue.
At point in time? Or is it over time, or both?
The artist places art in coffee shops and they ask what this is an example of
Given the information on the normal and discounted warranty prices, the percent chance a buyer will get the extended warranty and the estimated amount of fryers that will be bought… find the stand-alone price of the warranties.
Given the information on the fixed-fee construction contract and the accounting records for three consecutive years… find the gross profit.