1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
KengaRu [80]
3 years ago
12

Harold Corporation has an existing contract to sell 200 units of product to a customer at $10 each. After the delivery of 150 un

its, the customer wants to extend the contract for an additional 100 units. The price quoted for these additional units is $9.50 each (standalone price) and they can be identified separately. The revenue recorded by Harold for the delivery of the next 15 units of product to this customer is:
A. $150.00
B. $145.00
C. $142.50
D. $147.50
Business
2 answers:
satela [25.4K]3 years ago
7 0

Answer:

C. $142.50

Explanation:

Revenue is to be measured and recognized at the prevailing contract price agreed by the parties involved.

A contract gives rise to an agreement between two or more parties for which at least one party  has an obligation to be fulfilled to another in a bid to earn revenue. This fee is known as the  transaction price.

AS such, the additional units will be supplied at the price quote of $9.50 each. If 15 items are delivered,

Revenue earned = 15 * $9.50

= $142.50

nika2105 [10]3 years ago
4 0

Answer:

C. $142.50

Explanation:

From the existing contract,

200 units for $10 each

150 units were delivered so, 10 x 150= $1500.

The customer wants to extend the contract for additional 100 units at $9.50 each.

So,what is the revenue to Harold Corporation for these additional units which cost $9.50 for the next 15 units.

Therefore, 15 x 9.50=  $142.504

You might be interested in
In order for information to be meaningful, a firm's accounting processes and procedures should be certified as accurate by accep
otez555 [7]

Answer:

The correct answer is (D)

Explanation:

An independent auditor is an affirmed open bookkeeper or contracted bookkeeper who inspects the money related records and business exchanges of an organisation with which he is not associated. Organisations generally employ independent auditor to give fair suppositions about the precision of an organisations financial statements and cash flows. It is important to hire private auditors to scrutinise company’s financial flaws.

5 0
3 years ago
It has been estimated that there are 107 billion pieces of mail per year. if the postage rates are raised 3¢, how much extra rev
Virty [35]
6783$ a month I think that's the answer I hope
7 0
3 years ago
The client at the HIV clinic has come in complaining of unintended weight loss with diarrhea lasting over the last month. How is
AVprozaik [17]

Answer:

The correct answer is Loss of 10% of usual weight.

Explanation:

The attrition syndrome associated with HIV infection is characterized by:

  1. Loss of involuntary body weight and greater than 10% compared to the normal reference weight.
  2. Diarrhea or chronic weakness with fever, for a period greater than 30 days.
  3. Absence of any infection or condition other than HIV: cancer, tuberculosis, cryptosporidiasis and other enteritis that could explain these symptoms.
  4. In practice, any progressive and involuntary weight loss of this magnitude is considered a syndrome of attrition and translates into the development of a significant nutritional deficit that leads to significant physical and psychological deterioration.

The attrition syndrome may be a consequence of HIV infection itself. Thus, those patients presenting with symptoms of wear and tear should use all available options of antiretroviral therapy, which may remit symptoms and not require other specific interventions. It is also associated with opportunistic HIV infections and cancers. Opportunistic infections that cause diarrhea can cause attrition syndrome. This can cause greater immunodeficiency in affected people and predispose them to certain diarrheal opportunistic infections, which would be reinforced by a vicious cycle.

7 0
3 years ago
Price floors and price supports set a minimum price below which a good or service cannot be sold. Minimum wage laws and agricult
Sergeu [11.5K]

Answer:

C. A surplus of agricultural goods

Explanation:

Un-intervened markets are at equilibrium where Market Demand = Market Supply. Market Supply curve is upward sloping, due to price - supply direct relationship. Market demand curve is downward sloping, due to price - demand inverse relationship. Both curves intersect at equilibrium.

Price floor is minimum mandated price by government, below which a good cant be sold in the markets. It is usually set above market price, to protect the interest of sellers. Eg : Minimum Support price, of agricultural goods, set for protecting interests of sellers (farmers) from volatile prices.

This mandate set artificially high price : leads to supply being more than demand, as supply is directly & demand is inversely related to price. So, supply > demand implies that agricultural goods are at surplus in markets.

7 0
3 years ago
Santana Company exchanged equipment used in its manufacturing operations plus $2,000 in cash for similar equipment used in the o
Ede4ka [16]

Solution :

We know that the exchange takes place when the FMV receive is equal to the FMV given up.

Where the FMV = fair market value

The commercial substance means the future cash flows exchange.

The non monetary exchange refers to the cash which is less than 25% of the fair value exchange.

The journal entries for the Santana Corp. when the exchange lack the commercial substance are reported as :

Transaction                                           Debit ($)                 Credit ($)

Asset(new)                                           11,000

Accumulated depreciation(old)          9,000

Asset (old)                                                                       28,000

Cash                                                                                 2000

The journal entries for Delaware Corp. when the exchange lacks the commercial substance.

Transaction                                           Debit ($)                 Credit ($)

Asset(new)                                            16,000  

Accumulated depreciation (old)          10,000

Loss                                                                                      2500

Assets (old)                                                                           28,000                                  

7 0
2 years ago
Other questions:
  • Xinhong Company is considering replacing one of its manufacturing machines. The machine has a book value of $45,000 and a remain
    12·1 answer
  • New batteries are needed to power our electronic devices—our cell phones, tablets, and computers—and that market is exploding. R
    8·1 answer
  • The internet enables people to make better economic decisions because they can do which of the following?
    15·2 answers
  • Ownership of a put option entitles the owner to the __________ to ___________ a specific stock, on or before a specific date, at
    15·1 answer
  • How to create a social media platform
    5·2 answers
  • You are aware that another coworker is having severe financial problems. she is a single parent and you saw her take some suppli
    7·2 answers
  • 1) ________ refers to the means by which firms attempt to inform, persuade, and remind consumers—directly or indirectly—about th
    9·1 answer
  • What measures the change in prices of a basket of goods and services in a given year?
    7·2 answers
  • In advertising research, _____________ measures the effectiveness of advertising messages by showing them to consumers.
    14·1 answer
  • What segment of the foodservice industry is characterized by limited menus, fast service, and modest prices?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!