User Account

All Pages

How much profit can Ouyang Inc recognize

Assignment Help Financial Accounting
Reference no: EM132935044

Question - Ouyang Inc. spent $400,000 improving an apartment. He sold the property for $500,000 but the buyer makes two installment payments. On the first payment due date, Ouyang Inc. receives a check for $200,000. How much profit can Ouyang Inc. recognize from this $200,000 check if the installment method of revenue recognition is used?

Reference no: EM132935044

Questions Cloud

How much was received by Eleanor from the sale of bonds : Present value of an ordinary annuity of 1 at 12% for 10 periods 5.65022. How much was received by Eleanor from the sale of bonds on July 1, 2008
What is the maximum deductible contribution : Brianna's employer does not offer a retirement plan and she has income of $60,000 on her W-2. What is the maximum deductible contribution
What amount should be included as loss on disposal : In Yellow Corp.'s statement of comprehensive income for the year ended 30 June 2021, what amount should be included as loss on disposal
What is the correct amount of petty cash on balance sheet : The petty cash fund was established for an amount of P60,000. What is the correct amount of petty cash on the balance sheet as of December 31, 2020
How much profit can Ouyang Inc recognize : How much profit can Ouyang Inc. recognize from this $200,000 check if the installment method of revenue recognition is used
What would the journal transactions look like : Excalibur Corporation is authorized to issue 3,000,000 shares of $4 par value common stock. What would the journal transactions look like
Determine the new balance : He made a payment of $144.79 and had charges of $125.22, $23.22, and $33.65. There is no finance charge. Determine the new balance
Discuss the issue of the partner responsible for engagement : iscuss the issue of the partner responsible for the engagement being a relative young partner with limited personal power within AA
Create adjusting journal entries : Create adjusting journal entries ensuring that the narration, date (all journals should be dated 30 April 2021), description and account fields are completed

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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