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 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.
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 how much gift card revenue should Bull’sEye recognize.
Your numbers will vary.
Given the amount of kitty litter sold and price per bag along with returns, they ask you to determine how much revenue should be recognized.
Your numbers will vary.
Find what the accounting records would indicate for accounts receivable and revenue.
Your numbers will vary.
Suppose a contract for sale of goods states payment is to be made 4 months after delivery. Seller’s action, with respect to the time value of money over the life of the contract?