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
sattari [20]
3 years ago
13

On June 1, 2020, Smith sold equipment to Landing Inc. in exchange for a zero-interest bearing note with a face value of $110,000

, with payment due in 12 months. The fair value of the equipment on the date of sale was $100,000.
(a) The amount of revenue to be recognized on this transaction in 2020 is ___________.
Business
1 answer:
Levart [38]3 years ago
5 0

Answer:

$100,000 sales revenue and $5,833 interest revenue

Explanation:

The computation is shown below:

For interest revenue

= (Face value - fair value of the equipment) × number of months ÷ total number of months in a year

= ($110,000 - $100,000) × 7 months ÷ 12 months

= $5,833

The seven months is calculated from June 1 to December 31

And, the fair value of the equipment on the sale date i.e $100,000 is also recognized

You might be interested in
If people have a high degree of _______ one is more likely to want to stay with their current company.
IrinaVladis [17]

If people have a high degree of organizational commitment one is more likely to want to stay with their current company.

Organizational commitment means the connection or the bond that the employees have with their organization or the employer. It all depends upon their psychology that more attachment they have with their employer or the organization more will they want to stay in it.

It defines  different variables such as the job performance of the employees, turnover of the company or the employee employer relationship.

A model of commitment was given by Meyer and Allen in which they defined three types of commitment:

Affective commitment

Continuance commitment

Normative commitment.

To know more about commitment here:

brainly.com/question/24912989

#SPJ4

8 0
2 years ago
The most significant conceptual difference between the arbitrage pricing theory (apt) and the capital asset pricing model (capm)
MrRa [10]
<span>is that the capm recognizes only one systematic risk factor.</span>
5 0
3 years ago
A multi-location flower shop receives payment from customers in person, over the Internet, and through the mail. When checks com
hoa [83]

Answer:

To reduce the chance of fraud.

Explanation:

An appropriate practice to reduce transaction fraud would be "traceability," which is the ability to track and follow the supply chain of some manipulation. This greatly helps prevent fraud and loss of information.

Financial frauds are actions that a person performs in order to obtain a profit of their own at the cost of damage the economy of another.

7 0
3 years ago
Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It uses a job-order costing system wi
Anna35 [415]

Answer:

the  total manufacturing cost assigned to Job P90 is $3,792

Explanation:

The computation of the  total manufacturing cost assigned to Job P90 is given below:

But before that the predetermined overhead rate should be calculated

So,

= ($2,800,000 ÷ 200,000) + $2

= $16

Now the total manufacturing cost is

= $1,472 + $1,056 + 79 × $16

= $3,792

hence, the  total manufacturing cost assigned to Job P90 is $3,792

5 0
3 years ago
Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he earned a total of $4,540. The F
love history [14]

Answer:cheating is

Explanation:bad

3 0
2 years ago
Other questions:
  • If you cause a car accident which type of insurance will require you to pay the least out of pocket
    14·2 answers
  • Stocks with higher than average potential to increase in value are referred to as
    13·1 answer
  • Mark expects the value of currency X to appreciate in the near future. Hence, he delays the collection of payments from foreign
    15·1 answer
  • In 2018, the Barton and Barton Company changed its method of valuing inventory from the FIFO method to the average cost method.
    14·1 answer
  • "The process through which consumers receive stimulation, transform it into meaningful information, store the information in mem
    12·1 answer
  • In regard to Project Work, which activity refers to reviewing the progress and capturing project performance data with reference
    5·1 answer
  • Mike just started working for a company that maintains a defined benefit retirement plan. If Mike terminates his employment with
    8·1 answer
  • __________ is a cornerstone in the protection of information assets and in the prevention of financial loss.
    14·2 answers
  • When recommending a 529 Plan to a client, the registered representative should inform the customer about the: A income-phase out
    8·1 answer
  • Discuss steeps involved in business planing process​
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!