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Question -
In September 2017, Flounder Corp. commits to selling 152 of its iPhone-compatible docking stations to Better Buy Co. for $15,048 ($99 per product). The stations are delivered to Better Buy over the next 6 months. After 92 stations are delivered, the contract is modified and Flounder promises to deliver an additional 43 products for an additional $4,042 ($94 per station). All sales are cash on delivery.
Prepare the journal entry for Flounder for the sale of the first 92 stations. The cost of each station is $57.
Prepare the journal entry for the sale of 10 more stations after the contract modification, assuming that the price for the additional stations reflects the standalone selling price at the time of the contract modification. In addition, the additional stations are distinct from the original products as Flounder regularly sells the products separately.
Prepare the journal entry for the sale of 10 more stations (as in (b)), assuming that the pricing for the additional products does not reflect the standalone selling price of the additional products and the prospective method is used.
steven clark and two of his colleagues are considering opening a law office in a large metropolitan area that would
Venus Inc. has fixed costs of $300,000. Total costs, both fixed and variable, are $450,000 when 30,000 units are produced. Calculate the total costs if the volume increases to 60,000 units.
bach table company manufactures tables for schools. the 2011 operating budget is based on sales of 40000 units at 50
A website that rents movies online recorded the age and the number of movies rented during the past month for some of their customers. Here are their data:
How might your solution differ if National Distribution Center prepares its financial statements according to International Financial Reporting Standards? Include any appropriate journal entries in your response.
Lewis Company calculates its predetermined rates using practical volume, which is 288,000 units. The standard cost system allows 2 direct labor hours per unit produced
Refer to the opening feature in this chapter about Catherine and David Cook and their company, myYearbook (now rebranded as MeetMe).
State and interpret the null hypothesis tested by the F-test in the analysis of this experiment. Does the F-test reject this null hypothesis? What is the implication for management of the F-test? Assume that the data meet the required conditions.
During the year, he spends $300 on qualified medical expenses and the HSA earns $18. What is the effect of Hamid's participation in the HSA on his adjusted gross income?
on november 1 2014 ez products borrowed 48000 on a 5 10-year note with annual installment payments of 4800 plus
A change in an accounting estimate is: how much depreciation expense should the company recognize on December 31, 2010?
orlando company management predicts that it will incur fixed costs of 267000 and earn pretax income of 353100 in the
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