Answer:
a. Groupo sells goods to MTN for $1,000,000, payment due at delivery.
- transaction price = $1,000,000
- revenue recognized once the goods are delivered
No journal entry is required until goods are delivered and accepted.
b. Groupo sells goods on account to Grifols for $800,000, payment due in 30 days.
- transaction price = $800,000
- revenue recognized immediately since goods were already delivered
The journal entry:
Dr Accounts receivable 800,000
Cr Sales revenue 800,000
c. Groupo sells goods to Magnus for $500,000, payment due in two installments, the first installment payable in 18 months and the second payment due 6 months later. The present value of the future payments is $464,000.
- transaction price = $480,000
- revenue recognized immediately since goods were already delivered
The journal entry:
Dr Notes receivable 500,000
Cr Sales revenue 480,000
Cr Discount on notes receivable 20,000
This is true, it is a misunderstandment
Answer:
It will initiate a trade war between countries.
Explanation:
When international rivals compete in the multi-country or global market, they usually show aggressive behaviour that initiates trade war between them and the countries. In order to compete in the market and to compete against each other, the rivals show aggressive behaviour in terms of profit and cost margins that helps the buyers to buy commodities of good quality and at low prices.
Total manufacturing costs=direct material+direct labor+manufacturing overhead
Calculate direct labor
Let direct labor be x
120%=1.2
1.2x=180000
Divide both sides by 1.2
X=180,000÷1.2
X=150,000 direct labor
Total manufacturing costs=
120,000+150,000+180,000
=450,000...answer
Hope it helps!
The dollar buys more yen<span> and the </span>dollar has<span> appreciated.</span>
