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velikii [3]
3 years ago
14

On january 1, salow company enters into a contract to provide custom-made equipment to byhi corporation for $100,000. the contra

ct terms allow cancellation without penalty by either party at any time prior to delivery of the goods. the contract specifies a delivery date of march 15 but the equipment was not delivered until april 10. the contract required full payment within 30 days after delivery. when should revenue be recognized for this contract? may 10 april 10 never, because it includes a termination agreement. march 15
Business
2 answers:
nirvana33 [79]3 years ago
5 0

Answer: I believe the answer is March 15th.

maria [59]3 years ago
4 0

Answer: The correct answer is April 10.

Explanation: When a sale is made the revenue is going to be recognized when the product is delivered. In this case, Accounts Receivable will be debited and Sales will be credited on April 10. When the payment is received Cash will be debited and Accounts Receivable will be credited.

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If a firm favors a push strategy, using direct selling to educate potential consumers about the features of its products, what k
BigorU [14]

Answer:

industrial products

Explanation:

A company that does this and mostly favors a push strategy is usually selling industrial products. That is because a push strategy focuses on taking the product to the potential customer and showing them how it works as well as how it can benefit them, therefore pushing the product on them. Industrial Products are great for such a strategy since they require actual demonstration and can easily show the potential customer the actual value that the product can provide.

3 0
3 years ago
The following is the Bravo Unlimited adjusted Trial Balance.
ivanzaharov [21]

Explanation:

The preparation of the Assets section is shown below:-

                                         Alpha Dog Company

                                         Adjusted Trial Balance

                                           December 31, 2016

Particulars                                               Assets

Cash                                                        $88,450

Accounts Receivable                             $150,000

Supplies                                                  $29,255

Total current assets                               $179,255

Fixed Assets

Equipment                            $295,285

Accumulated Depreciation -$238,760  $56,525

Stock Investment                                     $172,000

Total Fixed assets                                    $228,525

Total Assets                                              $407,780

Total Assets = Total current assets + Total fixed assets

7 0
3 years ago
Hogan Industries had the following inventory transactions occur during 2017: Units Cost/unit Feb. 1, 2017 Purchase 110 $46 Mar.
Rama09 [41]

Answer:

The answer is: Gross profit = $2,788

Explanation:

  • Feb. 1         Purchase    110 units     $46 per unit
  • March 14    Purchase    190 units    $48 per unit
  • May 1         Purchase     135 units   $ 50 per unit

312 units were sold at $64 per unit, tax rate is 30%

Using FIFO, what is the company's gross profit? We first calculate COGS

Cost of goods sold - 312 units:

  • 110 units at $46 per unit = $5,060
  • 190 units at $48 per unit = $9,120
  • 60 units at $50 per unit = $3,000

Total COGS = $17,180

<u>Income statement for Hogan Industries 2017</u>

Total revenue         $19,968

<u>COGS                     ($17,180)     </u>

Gross profit             $2,788

<u>Taxes 30%             ($836.40)   </u>  

Net profit                $1,951.60

6 0
3 years ago
Kodak is a company name associated with photography. The company has recognized that digital photography is a threat to the futu
Ksivusya [100]

Answer:

The correct answer to the following question will be Option B (design competition).

Explanation:

  • Design competition seems to be a platform that allows participants to overcome a problem domain as well as compete against someone else, mostly their colleagues, to obtain an honor or perhaps a construction project.
  • In comparison to the greatest design, arts as well as architecture blogs around the world, A' Design Recognition and Competition distributes every information throughout the design internet networks.

Some other available options have no connection with the given scenario. So choice B seems to be the right answer to that.

5 0
3 years ago
Which of these is not an advantage of entrepreneurship
Alchen [17]

Answer: 2

Explanation: You don't automatically gain foresight when you start a business

8 0
3 years ago
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