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3 years ago

What is the diffrence between actual and proposed selling price

1 answer:

4 0

Actual means the real selling price for the product paid by the customer whereas proposed selling price is the price which was suggested to be set for the product.

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Presented below are three revenue recognition situations. (a) Groupo sells goods to MTN for $901,000, payment due at delivery. (

LekaFEV [45]

Answer:

Groupo

Transaction Price When Revenue should be recognized

a. $901,000 the delivery date

b. $879,000 the sales date

c. $443,000 the sales date

c. $37,000 in the period interest is earned.

Explanation:

1) Data and Analysis:

a. Delivery date: Cash $901,000 Sales Revenue (MTN) $901,000

b. Sales date: Accounts receivable (Grifols) $879,000 Sales Revenue $879,000

c. Sales date: Accounts receivable (Magnus) $480,000 Sales Revenue $443,000 Deferred Interest Revenue $37,000

2) According to the IFRS 15 and ASC 606, Revenue from Contracts with Customers, revenue should be recognized when performance obligations have been met.

8 0

3 years ago

_____ encourage employees to behave in a socially responsible manner.

tatiyna

The answer to this question is the Ethical organizational Cultures. The Ethical organizational Culture is the standards and principles that the business or company believes which makes an impact to the members of the organization and these values gives impact to them. Each company have a different or unique organizational culture.

5 0

3 years ago

Baylor Company began its operations on March 31 of the current year. Projected manufacturing costs for the first three months of

inn [45]

Answer:

Cash= $183,950

Explanation:

Giving the following information:

Baylor Company began its operations on March 31 of the current year. Projected manufacturing costs for the first three months of business are $156,800, $198,200, and $217,600, respectively, for April, May, and June. Depreciation, insurance, and property taxes represent $28,800 of the estimated monthly manufacturing costs. Insurance was paid on March 31, and property taxes will be paid in November. Three-fourths of the remainder of the manufacturing costs are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month.

May:

Manufacturing cost= 198,200 - 28,800= $169,400

Cost for June= 169,400*0.25= 42,350

June:

Manufacturing cost= 217,600 - 28,800= $188,800

Cost from May= 42,350

Cost for July= 188,800*0.25= -47,200

Cash= $183,950

6 0

3 years ago

Patti volunteered to cover the balance of a coworker's shift so that he could pick up his sick child from day care. this is an

Alex73 [517]

Patti volunteered to cover the balance of a coworker's shift so that he could pick up his sick child from day care. this is an example of organizational citizenship (OCB). OCB stands for person's voluntary commitment within an organization outside her contractual tasks. The father of OCB is Dennis Organ. He defined the term in 1988.

7 0

3 years ago

Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May JuneManuf

Juli2301 [7.4K]

Answer:

Total cash expense= $181,675

Explanation:

Giving the following information:

Manufacturing cost:

April= $155,800

May= $190,300

Insurance is not paid in May.

Property tax is paid in November.

Depreciation is not a cash expense.

Total cash payment May:

Manufacturing cost May= 190,300*0.75= 142,725

Manufacturing cost April= 155,800*0.25= 38,950

Total cash expense= $181,675

4 0

3 years ago