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Cass Company enters into a contract with Dearborn Inc. to sell it $50,000 of goods with delivery on May 10, 2017. Cass manufactured the goods at a cost of $33,000. The contract is signed on April 15, 2017, at which time Dearborn pays Cass $25,000. Cass delivers the goods on May 10, 2017, and Cass pays the final $25,000 on that date. Required: 1. On what date does a contract exist between Cass and Dearborn? 2. What are Cass’s performance obligations in the contract? 3. What is the transaction price? 4. Does this transaction price need to be allocated? 5. Prepare Cass’s journal entries related to the contract with Dearborn
Computer software can only be sold as an electronic product. A blog consists of a Web site framework that enables others to read your comments. Product differentiation will not attract customers but might only allow the company to charge higher price..
Address the following questions and also provide the name of a company example of each structure with supporting rationale. What kinds of companies should employ the simple structure organizational configuration? What kind of companies should use the..
a manufacturer of oak barrels has factories in an area at the location coordinates provided in the following table.
Evaluate the internal processes or strategies within an organization in which you are involved, such as your workplace, school, church, or community group, in order to identify a problem that provides an opportunity for innovation.
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Using the EOQ's above and volume order information provided, what will be the cost of the programs and inserts if they are purchased from Quality Printing
In the Autumn, appropriately called “Fall,” is leaf-raking time. My son wants to earn money to buy “pipes” for his car, costing $500. On average, 600 pounds of leaves fall from the trees in my yard each year, with a standard deviation of 60, in appro..
EcoTable is a retailer of specialty organiz and ecologically friendly foods. In one of their Cambridge, Massachusetts, stores, they plan to offer a gift basket of Tanzanian teas for the holidays season. The gift basket sells for $47, the purchase cos..
Our new process manager decided to get a running start on an upcoming sale and advised the planner to start the project with 90% of the details, increase the batch size, and add more people in order to finish the process as soon as possible. From cla..
Create a title slide with your new business' name. Create the PowerPoint slides for the presentation that you will be giving to the company owners.
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