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According to the revenue recognition principle, if revenue to is going to be recognized in August, indicate the amount for each.
1. "Billy's Builders company signed a contract with a customer for the construction of a new $500,000 home. At the signing, Billy's received a check for $50,000 as a deposit to be applied against amounts earned during the first phase of construction. Answer from Billy's standpoint."
2. "Texas State University received $20,000,000 cash for 80,000 five-game season football tickets. None of the games have been played.
3. Texas State University played the first game referred to in (2).
4. A magazine company received $800 today from subscribers. The subscriptions begin in the next fiscal year. Answer from the magazine company's standpoint.
julyaugustseptemberoctobersales in units4500530040003700harper has decided that the number of units in its inventory at
How much of this amount will be interest? If you decidet pay off the loan at the end of the first year, how much will youowe the dealer?
in may of this year mary-mark enterprises a business that uses the calendar year as its tax reporting year acquired a
the centralized employee travel department of ohno company has expenses of 210000. the department has serviced a total
The company wants to maintain a minimum cash balance of $20,000. What is the minimum cash loan that must be planned to be borrowed from the bank during December?
Longhorn Company reports current E&P of $100,000 in 20X3 and accumulated E&P at the beginning of the year of negative $200,000. Longhorn distributed $300,000 to its sole shareholder on January 1, 20X3. The shareholder's tax basis in his stock in L..
big bear athletic equipment co. operates two division - the winter sports division and the summer sports division. the
beginning three months from now you want to be able to withdraw 2500 each quarter from your bank account to cover
Simona Amanar Industries has two operating divisions-Gina Construction Division and Chorkina Securities Division. Each division maintains its own accounting system and method of revenue recognition.
suppose you are comparing two firms within an industry. one is large and the other is small. will relative or absolute
Does a non-controlling shareholder have access to any information other than the consolidated financial statements to determine how well the subsidiary is doing?
What are the tax consequences of these transactions?
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