Assume that you are a technology services provider

Assignment Help Accounting Basics
Reference no: EM131022742

1. Assume that you are a technology services provider and you must decide whether to record revenue from the installation of computer software for one of your clients. Your contract calls for acceptance of the software by the client within six months of installation before payment is due. Although you have not yet received formal acceptance, you are confident that it is forthcoming. Failure to record these revenues will cause your company to miss Wall Street's earnings estimates. What stakeholders will be affected by your decision and how might they be affected? 

Reference no: EM131022742

Questions Cloud

What will be the equilibrium nominal wage rate per hour : If there is no change to the labor market for next year, what will be the equilibrium nominal wage rate per hour of labor next year? Hint: you will need to calculate the real wage and the price index in order to then calculate the nominal wage rat..
Explain how germany current account surplus could smaller : In 2012, Germany had a balance of trade surplus of $238 billion and a current account surplus of $208 billion. Explain how Germany's current account surplus could be smaller than its trade surplus. In 2012, what would we expect Germany's balance o..
Research this question and provide a response : Determine how Netflix, Inc. got its initial financial start in terms of debt (liabilities) or equity (capital). Support your response.
Which bonds have the lowest average bond enthalpy : (a) In polyvinyl chloride shown in Table, which bonds have the lowest average bond enthalpy? When subjected to high pressure and heated polyvinyl chloride converts to diamond. During this transformation which bonds are most likely to break first?
Assume that you are a technology services provider : Assume that you are a technology services provider and you must decide whether to record revenue from the installation of computer software for one of your clients.
What percentage of total tax expense is currently payable : What percentage of total tax expense is currently payable in each year? (Round your answers to the nearest whole number.)
Industrial revolution occurred in england : Shiue and Keller found that in 1770, the efficiency of markets in England was significantly greater than the efficiency of markets elsewhere in Europe and in China. How does this finding relate to Douglass North's argument concerning why the Indus..
What is the hybridization of orbitals at each carbon atom : The solid wedges in the figure indicate bonds from carbon that come out of the plane of the page; the dashed wedges indicate bonds that lie behind the plane of the page. What is the hybridization of orbitals at each carbon atom? What angles do you ..
Percentage increase in real gdp : Explain the difference between the total percentage increase in real GDP between 2003 and 2013 and the average annual growth rate in real GDP between the same years.

Reviews

Write a Review

Accounting Basics Questions & Answers

  The project proposal is the financial and operational

the project proposal is the financial and operational consequences of a merger between two organisations. the project

  Amortization for the current year

If no net gain (loss) was carried in accumulated OCI at the beginning of the year, the amount of net gain (loss) subject to required amortization for the current year is:

  What correcting entries would need to be made to properly

What correcting entries would need to be made to properly record interest on Frosty Co.'s construction project if John and Elsa are right? What correcting entries would need to be made to properly record interest on Frosty Co.'s construction project ..

  Amount of gain or loss from futher processing of product

The business has been offered $5 per finished gallon to process two batches of Product A futher into Product B. Product B will require additional processing costs of $7,800 per batch, and 10% of the gallons of Product A will evaporate during proce..

  What are the key management assertions related to cash

What are the key management assertions related to cash? What are the most important assertions related cash? How will auditors test these assertions?

  Preparing journal entries and trial balances

Prepare general journal entries for the following transaction of a new business called Pose for Pics. (please use Excel)

  Mcbride medical had a cash balance of 7000 on january 1 the

mcbride medical clinic has budgeted the following cash flows.janurary febuary marchcash receipts 101000 108000

  Rogers cpas set the following standard for its inventory

rogers cpas set the following standard for its inventory audit of la bamba co. 350 hours at an average hourly billing

  What was landry accounts payable turnover ratio

Landry's Restaurants reported cost of goods sold of $322 million and accounts payable of $83 million for 2003. In 2002, cost of goods sold was $258 million and accounts payable was $72million. What was Landry's accounts payable turnover ratio in 2..

  For anyone that has or is working with sunsystem accounting

For anyone that has or is working with SunSystem accounting software, could you give me a description of what it is used for?

  Generating forecasts of the outlays

What factors are likely to drive a firm's outlays for new capital (such as plant, property, and equipment) and for working capital (such as receivables and inventory)? What ratios would you use to help generate forecasts of these outlays?

  Expenses for the year were 392000 ending equity is 751000

beginning assets were 700000 beginning equity was 225000 revenue for the year was 523000 common stock sold during 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