Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Interest Revenue from Installment Sale Becker Corporation sells farm machinery on the installment plan. On July 1, 2010, Becker entered into an installment-sale contract with Valente Inc. for a 8-year period. Equal annual payments under the installment sale are $100,000 and are due on July 1. The first payment was made on July 1, 2010.
Additional information
1. The amount that would be realized on an outright sale of similar farm machinery is $586,842.
2. The cost of the farm machinery sold to Valente Inc. is $425,000.
3. The finance charges relating to the installment period are based on a stated interest rate of 10%, which is appropriate.
4. Circumstances are such that the collection of the installments due under the contract is reasonably assured. What income or loss before income taxes should Becker record for the year ended December 31, 2010, as a result of the transaction above?(AICPA adapted
How does the expense warranty approach differ from the sales warranty approach?
Triple J's net income for the year ended December 31, 2012 was $278,000. It also had stock warrants issued on September 30, 2012, that could be converted into 24,000 shares of common stock, beginning in 2015.
the accounting profession is concerned about whether companies are in compliance with the varies federal and state
in 2011 nitai contributes 8 percent of his 117000 annual salary to a roth 401k account sponsored by his employer ay
in 2010 milly purchased 150 shares of stock in tommy corporation for 12500. in 2012 the corporation distributed 2000 to
excel 2010 provides the capability to exchange data with other applications. discuss the different types of ways to
What is the break-even point expressed in dollar sales? How many units must be sold to earn a net operating income of $100,000 per year
Use the information provided in BE12-7. Assume that the fair value of the division is estimated to be $750,000 and the implied goodwill is $350,000. Prepare Waters' journal entry, if necessary, to record impairment of the goodwill.
Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process costing, appear below:
the following items were selected from among the transactions completed by emerald bay stores co. during the current
Classify the following costs as variable (V), fixed (F), or semivariable (S) in terms of their behavior with respect to volume or level of activity.
how does the write-off of anuncollectible account receivable and the recovery of a previouslywritten-off account
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd