What amount of revenue should blossom report for the sale

Assignment Help Accounting Basics
Reference no: EM132480584

Question - Blossom Company sells goods to Blue Company during 2020. It offers Blue the following rebates based on total sales to Blue. If total sales to Blue are 10,600 units, it will grant a rebate of 2%. If it sells up to 18,300 units, it will grant a rebate of 5%. If it sells up to 27,400 units, it will grant a rebate of 6%. In the first quarter of the year, Blossom sells 10,500 units to Blue at a sales price of $94,500. Blossom, based on past experience, has sold over 39,400 units to Blue, and these sales normally take place in the third quarter of the year.

What amount of revenue should Blossom report for the sale of the 10,500 units in the first quarter of the year.

Reference no: EM132480584

Questions Cloud

Evaluate the management control system : In point form, list the advantages and disadvantages that residual income might have over the use of ROI at Riverside. Evaluate the management control system
What is recorded in the company Common Stock account : A company is started in Year One and has 100,000 shares of common stock authorized with a par value of $10 per share. What is recorded in the company account
Compute the amount of gross profit : Cheyenne Construction Company began operations on January 1, 2020. How to compute the amount of gross profit to be recognized for the year ended December
Prepare journal entries to update depreciation : Prepare journal entries to (a) update depreciation for 2018 and (b) record the sale. (Credit account titles are automatically indented when amount is entered
What amount of revenue should blossom report for the sale : Blossom Company sells goods to Blue Company during 2020. What amount of revenue should Blossom report for the sale of the 10,500 units in the first quarter
Determine the cost of the land and the cost of the building : Determine the cost of the land and the cost of the building as they should be recorded on the books of Cheyenne Co. Assume that the land survey
Prepare schedules to compute the profit or loss : Prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2020, 2021, and 2022
What amount will be shown as prepaid insurance : Oct 1, 20X1 to the end of Sep 20X3. When Catrina prepares its balance sheet at year-end 20X1, what amount will be shown as prepaid insurance?
What amount should be reported in stockholders equity : For the 52,000 shares that are now outstanding, what amount should be reported in stockholders' equity as additional paid-in capital

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.

  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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd