Question jerry hasbrow a sales representative for penn

Assignment Help Cost Accounting
Reference no: EM13349087

Question :

Jerry Hasbrow, a sales representative for Penn Office Supplies Company, is compensated on a commission basis and gets a substantial bonus if he meets his annual sales goal. The company's recognition point for sales is the day of shipment. On 31st December, Hasbrow realizes he needs sales of $2,000 to reach his sales goal and receive the bonus. He calls a purchaser for a local insurance company, whom he knows well, and asks him to purchase $2,000 worth of copier paper today. The purchaser says, "But Jerry, that's more than a year's supply for us." Hasbrow says, "Buy it today. If you decide it's too much, you will return however much you want for full credit next month." The purchaser says, "Okay, ship it." The paper is shipped on 31st December and recorded as a sale. On January 15, the purchaser returns $1,750 worth of paper for full credit against the bill.

Should the shipment on 31st December be recorded as a sale? Show the ethics of Hasbrow's

Reference no: EM13349087

Questions Cloud

Question 1defining the problems of society and ensuring : question 1defining the problems of society and ensuring that they are placed on the governmental agenda constitutes the
Question 1what were the main arguments for and against the : question 1what were the main arguments for and against the independence of mauritius in the 1960s?question 2the
Question 1a explain the methodology associated with a : question 1a explain the methodology associated with a sample based survey scheme for the estimation of catch data for
Question jean lou pat and diane are partners with capital : question jean lou pat and diane are partners with capital balances of 50000 20000 and 30000 correspondingly. these
Question jerry hasbrow a sales representative for penn : question jerry hasbrow a sales representative for penn office supplies company is compensated on a commission basis and
Question 1 why are expenses related to tax-exempt income : question 1. why are expenses related to tax-exempt income disallowed?2. deduction of taxes. joyce is a single
Question 11 on september 1 2000 galaxy corporations common : question 11. on september 1 2000 galaxy corporations common stock was selling at a market price of 150 per share. on
Question identify an appropriate cost driver for tracing : question identify an appropriate cost driver for tracing costs related with the various levels of activities to the
Question 1 did kpvis client-acceptance process follow the : question 1. did kpvis client-acceptance process follow the applicable standards and regulations?determine the

Reviews

Write a Review

Cost Accounting Questions & Answers

  Journalize the issuance of the bonds

Truestar Communication issued $90,000 of 9%, 10-year bonds payable on August 1, 2012, at par value. Truestar's accounting year ends on December 31.Requirements

  Determine what amount should funzy report

Determine what amount should Funzy report as a promotional expense on its December 31, 2011, income statement?

  What is the harm to the company

Why would the manager do this and what is the harm to the company and what should Ace do, and why?

  What is the annual breakeven point in units sold

What is the annual breakeven point in units sold and revenues - Break-even point in units = Fixed cost/(Selling price per unit

  Calculate the number ofunits required tobreak even

Calculate the number ofunits required tobreak even. The finance manager has devised a number ofalternative plans to get the entity back into profitability

  Should baltic buy the new machine

the tax rate is 40 percent and the firm uses straighline depreciation. Any gain or loss on the machine is subject to tax at 40 %.

  How many pounds of material does midwest inc plan

How many pounds of material does Midwest Inc. plan to purchase in July and what is the budgeted August 31 finished goods inventory balance (in dollars)?

  Question a on june 30 2011 barbie company was considering

question a. on june 30 2011 barbie company was considering options to bolster its cash position. choice one called for

  Compute the eva for each company for a cost of capital

investment strategy is to purchase the stock of the company that has a low price/earnings ratio but appears to be in good shape financially. Assume that you analyzed all other factors and your decision depends in the results of the ratio analysis ..

  Compute the amount vernas pension expense

Compute the amount Verna's pension expense for 2013 and prepare the related journal entries.

  Company took loans of rs 400000 from mbl and issued 8

company took loans of rs 400000 from mbl and issued 8 debentures of rs 500000 b as collateral security pass journal

  Appropriate budget requests for project

Your program has an RDT&E-funded project scheduled to start in July 2005 which is expected to take 12 months to complete. The project is expected to cost a total of $12 million - appropriate budget requests for this project?

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