User Account

All Pages

How much revenue should ABC record for the merchandise sold

Assignment Help Accounting Basics
Reference no: EM133031833

Questions -

Q1. Guardians Fund Managers Company sells two licenses to XYZ Company on September 1, 20x6. First in exchange for P400,000, the company provides XYZ with a copy of its proprietary investment management software, which the company does not anticipate updating and which XYZ can permanently use. Second, in exchange for P360,000, the company provides XYZ with a three-year right to market the company's financial advisory services under the name of Guardians, which the company advertises on an ongoing basis. How much revenue will the company recognize in 20x6 under this arrangement?

Q2. ABC Co sold merchandise to DEF Co for P120,000 and received P120,000 for that sale one month later. One week prior to receiving payment from DEF, ABC made a P20,000 payment to DEF for advertising services that have a fair value of P15,000. After accounting for any necessary adjustments, how much revenue should ABC record for the merchandise sold to DEF?

Reference no: EM133031833

Questions Cloud

Outline the organizations and institutions : You are the newly appointed director of the Center for Medicare and Medicaid Services (CMS). With healthcare costs continuing to soar, the Medicare Modernizatio
What the company accounts receivable turnover for the year : The 2016 financial statements of BNSF Railway Company report total revenues of $19,829 million, What the company accounts receivable turnover for the year
Health policy analysis-an interdisciplinary approach : Review the World Health Organization's (WHO) definition of health. Please provide and cite and references used.
Write a script of your interaction : Write a script of your interaction and by using a table you can organise your analysis. Select an interaction that was challenging, puzzling, mundane
How much revenue should ABC record for the merchandise sold : After accounting for any necessary adjustments, how much revenue should ABC record for the merchandise sold to DEF
Tps technology air canada takes off with maintenix : Air Canada is Canada's most prominent airline. It is the largest provider of scheduled passenger services in the Canadian market, the Canada-U.S. transborder ma
Discuss operational risks : Discuss Operational Risks and the need for organizations to invest in an Operational Risk Management Process
What do you think is contributing to the problems faced : The basic wheels were Perth Wheels best-selling wheel last year with 25,000 units sold. What do you think is contributing to the problems faced by Perth Wheels
How are the him professionals well-prepared : -How are the HIM professionals well-prepared and knowledgeable in providing germane and influential testimony related to laws and policies?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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