MC 6.94 Lucy & Bros.
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
They give you some dates about receiving an order, delivering cupcakes, getting deposit and paying balance and ask when they would record revenue.
They give you some dates about receiving an order, delivering cupcakes, getting deposit and paying balance and ask when they would record revenue.
They tell you Taylor provides handyman services to King and asks the amount of revenue for the first year.
Your numbers will vary.
The ask about IFRS for secured borrowing vs a sale, the important element is what?
They tell you company sells used videogames and has a one-week return right. Asks how to recognize the liability.
Given the cost associated with a premium home theater package, they ask you to determine how much of the transaction price would be allocated to each of the four parts of the contract.
Your numbers will vary.
Given information about a contract for the supply of vegetables, they ask you to prepare journal entries recorded for the sales contract.
Your numbers will vary.
The year-end adjusting journal entry to account for anticipated sales returns would include
Your numbers will vary.
Given the amount received for payment of goods along with the fair value, they ask you to determine when the payment was made and prepare journal entries for both the delivery and receipt of payment.
Your numbers will vary.
Find the contract price based on expected value method with certainty.
Your numbers will vary.
What would be the appropriate transaction price based on the expected value method but when very uncertain of estimate?
Your numbers will vary.