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On December 15, 2011 Risby Sales Co. sold a track of land that cost $3,600,000 for $4,500,000. Rigsby appropriately uses the installment sale method of accounting for this transaction. Terms called for a down payable on Dec.15,2012 and December 15, 2013. Ignore interest charges. Rigsby has a Dec 31 year end.a a realized gross profit of $100,000b. a deferred gross profit of $100,000c. an installment receivables (net) of 3,200,000d. an installment receivables (net) of $4,000,000
what is the accounting procedure for a warranty provision?
Q. Illustrate Accounting ramifications? Accounting ramifications i) Restatement ii) Unable to file on timely basis while go back and determine what periods are effected
Define reasons that influence a firm's degree of transaction exposure? What reasons influence a firm's degree of ‘transaction exposure' in a certain currency? For each reason d
Q. Evaluate Value of rights per existing share? Rights issue price = 4·00 × 0·85 = $3·40 Theoretical ex rights price = ((5 × 4·00) + 3·40)/6 = $3·90 Value of rights per e
Q. If a corporation declares a 10% stock dividend on its common stock, the account to be debited on the date of declaration is a. Common Stock Dividends Distributable. b. Common St
Dillings Ltd is a wholesaler and distributor of catering of office equipment. The following list of balances was extracted from its books at 31 March 2004: 1428_Prepare the Income
Foreign Currency Translation - Restating foreign currency in equivalent dollars; unrealized losses or gains are postponed and carried in Stockholder's Equity until foreign operatio
ABC Corportation purchased $15,000 of office furniture by putting down $7000 soqn in cash and the rest on accout
what are the activities?
Assume that it is now January 1, 2012. XYZ Inc. has developed a solar panel capable of generating 200% more electricity than any other solar panel currently on the market. As a res
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