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Given the following scenario, indicate when the firm should recognize revenue and why. Tomson Telecom maintains an inventory of telecommunications equipment. One of their customers, Bayone Telephone Company placed an order for 10 new transformers valued at $5 million and Tomson delivered them just prior to December 31. Thomson's normal business practice for this class of customer is to enter into a written sales agreement that requires the signatures of all the authorized representatives of Thomson and its customers before the contract is binding. However, Bayone has not signed the sales agreement because it is awaiting the requisite approval by the legal department. Bayone's purchasing manager has oral agreed to the contract and assured you that the contract will be approved by the end of January.
Actual fixed overhead was $360,000 and actual variable overhead was $170,000. Actual production was 11,700 units. Compute the factory overhead controllable variance.
alvarez company produces various parts used in the automotive industry. the sales budget for the first eight months of
Briefly explain the double taxation problem and how paying large salaries to owners avoids it.
What developments are leading to erosion of differences between at least some members of the Anglo-American and continental groups?
If interest rates suddenly rise by 2 percent, what is the percentage change in the price of these bonds?
The best estimate for the cost formula for the total cost ofproducing and selling the product (where X is the number of unitsproduced and sold in a period) is?
You recently invested $12,000 of your savings in a security issued by a large company. The security agreement pays you 7 percent per year and has a maturity two years from the day you purchased it.
1. on the designated worksheet prepare in journal entry form the adjusting journal entries for the following items.a.
use information from problem vi to prepare journal entries for the following events for the month of may. remember that
from the following data determine for the current year the a rate earned on total assets b rate earned on stockholders
Which of the following explanations might satisfy an auditor who discovers significant debits to an accumulated depreciation account?
In addition, some of CJP's facilities could be rented to a third party for $15,000 per year. What are the relevant costs for the "make" alternative?
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