They are in Installment Sales Contract.
<h3>
What is an Installment Sales contract?</h3>
Any contract or agreement, including a contract for deed, bond for deed, or any other sale or legal device whereby a seller agrees to sell and the buyer agrees to buy residential real estate, in which the consideration for the sale is payable in installments for a period of at least one year after the date of sale, and the seller retains an interest or security for the purchase price or otherwise in the property, is referred to as an "installment sales contract" or simply as "contract."
Revenue recognition using the installment sales technique is postponed until the sale's cash is received. Because revenue is not immediately recognized at the moment of sale, the installment sales method is a conservative way to recognize revenue.
Only when partial ownership is transferred at the time of sale is the installment sales technique used. The technique is also applied when there is some doubt regarding the amount that will be collected (therefore, it would be inappropriate to recognize all revenue at the time of sale).
Therefore, Carol and Leslie are in Installment Sales Contract.
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Answer:
d. $150,000.
Explanation:
The computation of the consolidated goodwill reported is shown below:
= Recorded amount of goodwill - impairment amount of goodwill
= $200,000 - $50,000
= $150,000
By deducting the impairment of goodwill from the recorded amount of goodwill we can get the consolidated goodwill that is to be reported.
The 90% acquired percentage is ignored
Answer:
He is trying to analyze the Gizell's Product life cycle
Explanation:
Product life cycle is the cycle which is the progression of the item through or via 4 stages of its time on the market. The 4 stages are Growth, Decline, Maturity and Introduction.
In this case, David is scrutinizes the sales records of Gizell and the profits which garmers from its sales. He is trying to analyze the product life cycle.
Answer:
The remaining useful life of the asset is = 10 - 3 = 7 years
Explanation:
The straight line method of depreciation charges a constant depreciation expense through out the useful life of the asset. The formula for depreciation expense under this method is,
Depreciation expense = (Cost - Salvage value) / Estimated useful life of the asset
Plugging in the values for depreciation expense per year, cost and salvage value, we can calculate the total expected life of the asset.
5000 = (53000 - 3000) / estimated useful life of the asset
estimated useful life of the asset = 50000 / 5000
estimated useful life of the asset = 10 years
As the accumulated depreciation balance is of 15000, the depreciation for 15000/5000 = 3years has been charged.
The remaining useful life of the asset is = 10 - 3 = 7 years
Answer:
$80 per unit
Explanation:
Data provided in the question:
Per unit selling cost of the product = $150
Per unit variable cost of the product = $70
Total fixed cost per month = $1200
Now,
The unit contribution margin is calculated as:
unit contribution margin = Selling price per unit - Variable cost per unit
Thus,
unit contribution margin = $150 - $70
or
unit contribution margin = $80 per unit
Hence,
The correct answer is option $80 per unit
