Apache company sold a parcel of undeveloped land to a

Reference no: EM13569705

Apache Company sold a parcel of undeveloped land to a construction company for $4,300,000. The book value of the land on Apache's books was $1,720,000. Terms of the sale required a down payment of $172,000 and 24 annual payments of $172,000 plus interest at an appropriate interest rate due on each July 1 beginning in 2014. Apache has no significant obligations to perform services after the sale. What should be the balance in the deferred gross profit account at the end of 2014 applying the installment sales method.

Reference no: EM13569705

Questions Cloud

Construct a contingency table or a venn diagram to evaluate : each year ratings are compiled concerning the performance of new cars during the first 90 days of use. suppose that the

Kyle inc has collected the following data on one of its : kyle inc. has collected the following data on one of its products direct materials standard 4 per finished unit total

Tannwin co sells a new product called accountomatic and has : tannwin co. sells a new product called accountomatic and has predicted the following sales for the first four months of

Health care costs a businessweek article titled hsas could : health care costs a businessweek article titled hsas could keep you in the pink by christopher farrell describes the

Apache company sold a parcel of undeveloped land to a : apache company sold a parcel of undeveloped land to a construction company for 4300000. the book value of the land on

Reagan corporation computed income from continuing : reagan corporation computed income from continuing operations before income taxes of 4500000 for 2013. the following

Using the following data complete the requirements given : instructions using the following data complete the requirements given below. when you are given amounts to assume as

The most recent financial statements for abc company are : the most recent financial statements for abc company. are shown here income statement sales 8600 costs6020 net income

5 years 5000 hours of usage jan 2008 purchased 460000 : 5 years 5000 hours of usage jan 2008 purchased 460000 salvage value of 60000 at end of 5 years 2008 usage was 1200

User Account

All Pages