I think the answer is C but i could be wrong
Answer:
Find below the requirement of the question:
Indicate the transaction price for each of these transactions and when revenue will be recognized.
1.At the time of delivery-$919,000
2 At the time of delivery-$770,000
3.At the time of delivery-$443,700
Explanation:
Generally speaking, from IFRS and U.S GAAP standpoint,revenue should be recognized when the seller has delivered goods to the customer or when services have been rendered,in essence the revenue recognition time is at the time of delivery for the three situations.
However,the amount to be recognized differs from one situation to the other,hence $919,000 should be recognized in the first instance and $770,000 in the second situation.
Finally,only the present value or present worth is recognized in the third situation as that reflect the fair value of goods sold.
Answer:
Notes Payable - Balance sheet
Advertising expense - Income statement
Common stock - balance sheet
Cash - balance sheet
Service revenue - income statement
Dividends - Statement of Retained Earnings
Explanation:
A. Notes payable will appear on Balance sheet(Under Liability)
B. Advertising expense will appear on Income statement(Under expense)
C. Common stock will appear on Balance sheet(Under Equity)
D. Cash will appear on Balance sheet(Under Asset)
E. Service Revenue will appear on Income statement(Under revenue or sales or income)
F. Dividends will appear on Statement of Retained Earnings which is the same thing as Statement of Owner's Equity
Answer:
transfer tax = $156.36
Explanation:
given data
sell home = $215,300
down payment = $27,000
mortgage = $85,000
state tax rate = $0.12 for each $100 paid
solution
we get here amount that subject to transfer tax is
amount subject to transfer tax = $215,300 - $85,000
amount subject to transfer tax = $130,300
and
now we get taxable parts
taxable parts =
taxable parts =
taxable parts = $1,303
so transfer tax is
transfer tax = $1,303 × $0.12
transfer tax = $156.36
Statistics is your answer i believe