What was the revenue in june from the sales

Assignment Help Financial Accounting
Reference no: EM132914133

A bed manufacturer took orders for 22 beds in May, each worth $2500.

Of these 22 beds:

  • 11 were paid for when the order was placed, and of these 11 beds, 3 were delivered in May, 4 were delivered in June and 4 were delivered in July
  • 11 beds were therefore ordered in May but were not paid for when the order was placed

Of these 11 beds:

  • 3 were delivered in May, but the customers were given credit and did not have to pay for the beds until the end of June
  • 2 were delivered in June, and paid for on delivery
  • 2 were delivered in June, but the customers were given credit and did not have to pay for the beds until the end of July
  • 4 were delivered in July, and paid for on delivery.

Problem 1: What was the revenue in June from these sales?

Reference no: EM132914133

Questions Cloud

Create partnerships within school community : Understanding the expectations of a co-teacher will help special educators meet the students' needs and create partnerships within the school community.
Abilities are teeming with myths and misconceptions : Perceptions about children with varying abilities are teeming with myths and misconceptions.
Create partnerships within school community : Understanding the expectations of a co-teacher will help special educators meet the students' needs and create partnerships within the school community.
What is the journal entry to adjust carry-forward balances : Sunshine Ltd, What is the journal entry to adjust the carry-forward balances of the deferred tax asset and deferred tax liability?
What was the revenue in june from the sales : What was the revenue in June from these sales? 3 were delivered in May, but the customers were given credit and did not have to pay for the beds until the end.
How does the play reflect or challenge your own values : How does the play reflect or challenge your own values? Explain why you think they deserve this status or if they do at all.
Calculate the cash flow from operating : Calculate the cash flow from operating, investing and financing activities, and the net change in cash for Bronze Corporation based on data.
Peculate about the role it will play in future : Discuss the role that public art has played in past and present society and speculate about the role it will play in the future.
What are some aspects of globalization and capitalism : What are some aspects of globalization and capitalism that have contribute to the economic abuse of children developing countries

Reviews

Write a Review

Financial Accounting Questions & Answers

  Prepare a balance sheet at may 31

Prepare a statement of cash flows for the month ended May 31, 2010. Prepare a balance sheet at May 31, 2010

  Present the journal entries that sapc limited made

Present the journal entries that SAPC Limited made in fiscal years ending September 30, Year 7, Year 8, and Year 9, related to the bank loan obtained on March 30, Year 7.

  Calculate the annual payments for speedo limited

Speedo's agreed to pay the balance in 10 equal end-of-year installments and 10% interest on the declining balance. Calculate the annual payments.

  What should be required initial investment at the beginning

What should be the required initial investment at the beginning of the first year if the fund earns 11%? (Round factor values to 5 decimal places)

  Section of the accounting standard codification

Which section of the Accounting Standard Codification best helps Crank's controller determine the proper accounting treatment of the application development

  What is the break even salvage value in USD

What is the break even salvage value in USD at the end of this project life (2nd year), if the future spot rates of the Australian dollar for the two years

  What is the unit cost for the direct materials

What is the unit cost for the direct materials for 2011, assuming 500,000 units are produced direct materials costs ate $4.30 per unit when 200,000 units are produced? Changes in accounting principle are always handled in the current or prospective p..

  What is the balance of unrealized profit in branch inventory

The income statement submitted by the branch, What is the balance of the unrealized profit in branch inventory account at December 31, 2016?

  What amount of family federal income tax savings

Brian is an 85 year old single taxpayer who is in the 39.6% federal income tax bracket. As part of his estate planning strategy, he gifted General Electric Corporation bonds to his 30 year old grandson, Casey, who is single and in the 25% federal inc..

  Why the distinction between current

Discuss, in your own words, why the distinction between current and non-current liabilities is important - Clarifying which liabilities are current

  How much additional capital should borrow to invest

A firm is planning, How much additional capital should they borrow to invest $750,000? Use the average flotation cost to determine the amount

  Regarding first-in-first-out process costing is true

Which of the following statements regarding first-in, first-out (FIFO) process costing is (are) true?

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