In what situations would a reasonable estimate of returns

Assignment Help Accounting Basics
Reference no: EM13585996

1. What is the authoritative guidance for revenue recognition when right of return exists?

2. When is this guidance important for a company?

3. Sales with high rates of return can ultimately cause inventory to be misstated. Why are returns allowed? Should different industries be able to make different types of return policies?

4. In what situations would a reasonable estimate of returns be difficult to make?
Image text transcribed for accessibility What is the authoritative guidance for revenue recognition when right of return exists? When is this guidance important for a company? Sales with high rates of return can ultimately cause inventory to be misstated. Why are returns allowed? Should different industries be able to make different types of return policies? In what situations would a reasonable estimate of returns be difficult to make?

Reference no: EM13585996

Questions Cloud

Why is the knowledge of documents and records and their : why is the knowledge of documents and records and their realtionship to financial statements an essentail for the study
What enviormental factors may affect the type of climax : what enviormental factors may affect the type of climax community that developes in an
We carefully observed a recent exam and recorded the : question as a student you probably have noticed a curious phenomenon. in every class there are some students who zip
The sales tax associated with the purchase was 1344 and : lancaster lumber supply sold 19200 worth of treated wood to singletary home builders on account on march 25 of this
In what situations would a reasonable estimate of returns : 1. what is the authoritative guidance for revenue recognition when right of return exists?2. when is this
List and briefly discuss the obstacles that must be : list and briefly discuss the obstacles that must be overcome to produce and aids vaccine. the key is brief but
If you are interested in obtaining the hexane and : in a seperatory funnel you have 2 phases with both liquids being clear and having roughly the same volume. you know one
The partnership equity accounts are considered to quite : the partnership equity accounts are considered to quite important within a partnership since it represents the partners
Assuming a two-tailed test with alpha 05 how large a : question assuming a two-tailed test with alpha .05 how large a correlation is needed to be statistically significant

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  This would result in a loss of 200 this would result in

xyz company has the following product costs for its line of product a direct materials 10 direct labor 8 variable

  Steckelburg inc produces and sells a single product the

steckelburg inc. produces and sells a single product. the selling price of the product is 150.00 per unit and its

  During the month of august zannys water ski radio

zanny electronics companyuses a standard cost system to collect costs related to theproduction of its water ski radios.

  Determine the tax character of a recognized gain or loss

How do you determine the tax character of a recognized gain or loss? Would you rather have a realized gain or loss or a recognized gain or loss?

  Place to prevent this type of theft

Identify two parties other than O'Conner who can be harmed by this theft. In what ways can they be harmed? Discuss the role accounting plays in this situation. What internal controls could be put in place to prevent this type of theft?

  The directors decide to declare total dividend

Assuming that the directors decide to declare total dividends in the amount of $366,000, determine how much each class of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock

  Prepare a statement of cash flows for 2010

Prepare a statement of cash flows for 2010 for Sondergaard Corporation. (List multiple entries from the largest positive to the smallest positive amount followed by the most negative to the least negative amount,

  Basics of deferred tax amounts

Show how any deferred tax amounts should be classified and reported on the 2006 balance sheet. The tax rate is 40%.

  Companies that move into a new country are often faced with

companies that move into a new country are often faced with a dilemma of adjusting to local practices or enforcing the

  The initial cost of the equipment was 310000 with an

1 the calculation for annual depreciation using the straight-line depreciation method is a. initial cost estimated

  The following are the summarized balance sheets of m ltd

the following are the summarized balance sheets of m ltd. and n ltd m ltd. n ltd. m ltd. n ltd. rs. rs. rs. rs. share

  Noncash financing and investing activities

The accounting principle that requires important noncash financing and investing activities be reported on the statement of cash flows or in a footnote is the:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd