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velikii [3]
2 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]2 years ago
5 0

Answer: I believe the answer is March 15th.

maria [59]2 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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Alan Jackson invests $20,000 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 yea
kondaur [170]

Answer:

a. $32,800

b. $37,019

c. $37,460

Explanation:

a. The computation of Total Amount Withdrawn by Alan when simple interest is shown below:-

Accumulated amount of money = Invested amount + (Rate of interest × Number of years)

= $20,000 + ($20,000 × 8% × 8)

= $32,800

b. The computation of Total Amount Withdrawn by Alan when annually Compounded is shown below:-

Accumulated amount of money = Invested amount × (1 + rate of interest)^Number of years

= $20,000 × (1 + 0.08)^8

= $20,000 × 1.85093

= $37,019

c. The computation of Total Amount Withdrawn by Alan when semi annually Compounded is shown below:-

Accumulated amount of money = Invested amount × (1 + rate of interest × Number of years ÷ 200)^16)

= ($20,000 × (1 + 0.08 × 8 ÷ 200)^16)

= $20,000 × 1.87298

= $37,460

Therefore we have applied the above formulas.

5 0
3 years ago
Manistee Corporation reported taxable income of $1,200,000 this year and paid federal income taxes of $408,000. Not included in
lidiya [134]

Answer:

$737,000

Explanation:

The computation of the current earnings and profits this year is shown below:

= Taxable income - federal income tax paid -  disallowed entertainment expenses + tax-exempt interest - net capital loss

= $1,200,000 - $408,000 - $25,000 + $20,000 - $50,000

= $737,000

Since we add the exempted interest and deduct all other expenses, losses, and taxes to the taxable income so that accurate value can come

7 0
3 years ago
which of the following typically results from the introduction of the assembly line into the production process? A.efficiency is
marta [7]
A. efficiency is increased
6 0
3 years ago
Read 2 more answers
You are the head of HR at an organic foods manufacturer. Your goal is to enable HR to transform the functioning of the company t
laila [671]

Answer:

Allocate sufficient resources and support for the HRX initiative ( B )

Explanation:

Allocating sufficient resources and support for the HRX initiative is a very good step in the right direction as the HR Manger in trying to implement the HRX initiative and also for the long term success of this Initiative as well.

since The main goal of the Head of the Human resources department is to transform the company's production level to a higher level of productivity in a quicker timer frame, dedicating more resources and support to the initiative will help to speed up activities and the company will start producing  at a very fast rate. having to increase salary will not help because the workers can only do what they can do they can't go beyond their limit hence there will be health emergencies.

4 0
3 years ago
As a new​ controller, reply to this comment by a plant​ manager: "As I see​ it, our accountants may be needed to keep records fo
fiasKO [112]

Answer: Accountants play major role in firms in handling financial records and auditing. Managers know financial information based on either background knowledge or learning on the job

Explanation:

The accountants are valuable to the organization because they monitor the monetary information that concerns the firm, they handle how cash come in and keep track of how they are spent, all these makes them valuable even to the extent of auditing information as regarding the firm. Managers might understand financial information either based on how they monitor what occurs in the organization or what they learnt in from college. But it's unsafe for the managers to handle financial situation without the aid of a professional accountant.

6 0
3 years ago
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