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dangina [55]
3 years ago
12

On July 1, 2021, Apache Company, a real estate developer, sold a parcel of land to a construction company for $3,000,000. The bo

ok value of the land on Apache’s books was $1,200,000. Terms of the sale required a down payment of $150,000 and 19 annual payments of $150,000 plus interest at an appropriate interest rate due on each July 1 beginning in 2022. How much revenue will Apache recognize for the sale (ignoring interest), assuming that it recognizes revenue at the point in time at which it transfers the land to the construction company? (Leave no cells blank - be certain to enter 0" wherever required.)"
Business
1 answer:
atroni [7]3 years ago
4 0

Answer:

Revenue 2021 = $3,000,000

Revenue 2022 = $0

Explanation:

Given that,

Sold a parcel of land to a construction company = $3,000,000

book value of the land on Apache’s books = $1,200,000

In this case, revenue is identified at a point when the parcel of land is transferred to the construction company.

Therefore, full revenue from the sale of land should be recognized in the year 2021 because the transfer of land occured in 2021 and there will be no revenue reflected in the year 2022.

Revenue 2021 = $3,000,000

Revenue 2022 = $0

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The two most popular inflation measures are the Consumer Price Index and the Wholesale Price Index.

Inflation can be viewed favorably or badly depending on the perspective and rate of change.

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Residents of the town of Maple Grove who are connected to the municipal water supply are billed a fixedamount monthly plus a cha
Lina20 [59]

Answer:

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3 years ago
In economic theory, demand refers to the various amounts of goods or services that consumers are willing to buy over a specified
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2 years ago
A local bagel shop produces two products: bagels (B) and croissants (C). Each bagel requires 6 ounces of flour, 1 gram of yeast,
irakobra [83]

Answer:

Consider the following calculations

Explanation:

Let X be Bagels and Y be croissants

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4 years ago
A ___________ plan can help you identify steps needed to restore a failed system. business continuity disaster recovery risk man
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Answer:

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So, DRP, could help in recognizing the steps required to restore the failed system in the business.

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