On december 30 2009 parker company ships 250000 of

Assignment Help Accounting Basics
Reference no: EM13578486

On December 30, 2009, Parker Company ships $250,000 of merchandise by common carrier to Jackson, Inc. The terms of the sale are 2/10, n/60, FOB shipping point. It takes four days for the merchandise to arrive at Jackson, Inc. Both Parker and Jackson have December 31 year-ends. Can Parker report a sale on its income statement for fiscal 2009? Why?

Reference no: EM13578486

Questions Cloud

Record the inventory purchases and cost of merchandise sold : 1. record the inventory purchases and cost of merchandise sold data in a perpetual inventory record similar to the one
Blitzen corporation had net income of 200000 and paid : blitzen corporation had net income of 200000 and paid dividends to common stockholders of 50000 in 2014. the weighted
Compute the selling costs to be assigned to the : kragan clothing company manufactures its own designed and labeled sports attire and sells its products through catalog
What is the probability that parents provided financial : according to the ameriprise financial money across generations study 9 out of 10 parents with adult children ages 20
On december 30 2009 parker company ships 250000 of : on december 30 2009 parker company ships 250000 of merchandise by common carrier to jackson inc. the terms of the sale
Lay out the design for two between-subjects experiments a : lay out the design for two between-subjects experiments a an experiment involving an experimental group and a control
Erik rekdahl senior-in-charge is auditing koonce katfood : erik rekdahl senior-in-charge is auditing koonce katfood inc.s long-term debt for the year ended december 31. long-term
Auto lavage is a canadian company that owns and operates a : auto lavage is a canadian company that owns and operates a large automatic carwash facility near quebec. the following
What is the probability that ms a mr b and mrs c win the : what is the probability that ms. a mr. b and mrs. c win the rst second and third prizes respectively in a drawing if

Reviews

Write a Review

Accounting Basics Questions & Answers

  Inventory shrinkages and accidents pertain to which

inventory shrinkages and accidents pertain to which component of direct costs associated with mismanaged organizational

  Compute the employer''s fica taxes for the pay period ending

Compute the employer's FICA taxes for the pay period ending December 18.  OASDI taxes HI Taxes,  OASDI taxable earnings $ HI taxable earnings $ , OASDI taxes $ HI taxes $

  What is the net amount to be paid the employee

hours worked, 48; federal income tax withheld, $341; cumulative earnings for year prior to current week, $96,780; social security tax rate, 6.0% on maximum of $103,004; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid..

  Prepare a performance report for the period

Prepare a performance report for the period showing only the spending variances for each overhead cost category.

  Compare and contrast the analytic tree approach with the

compare and contrast the analytic tree approach with the fault tree analysis approach. consider the pros and cons of

  The company would like to maintain ending merchandise

brarin corporation is a small wholesaler of gourmet food products. data regarding the stores operations

  What are the positive and negative aspects of budget

how does a government budget surplus affect the u.s. economy? identify two periods in recent history in which the

  Lower-of-cost or market methods

Alpine uses the Lifo method of inventory in conjunction with the lower-of-cost or market methods. Additional information states that teh value of the total cabinet inventory was still above costs.

  Concept of unit contribution margin

If fixed costs are $700.000 and the unit contribution margin is $14, what amount of units must be sold in order to realize an operating income of $100.000

  Prepare both of the journal entries to record interest

On January 1, 2010, Carla Industries issued 10% bonds dated January 1, 2010, which has a face amount of 25 million. The bonds mature in 2020. The market rate of interest 12%. The interest is paid on June 30 and December 31.

  Similarities and differences between gaap and ifrs

Compare and contrast the key similarities and differences between GAAP and IFRS with respect to income tax accounting. Analyze two (2) tax differences and determine which difference would provide the greatest tax benefit to a corporation. Writ..

  A company is planning to purchase a machine that will cost

a company is planning to purchase a machine that will cost 26400 has a six-year life and would be depreciated over a

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