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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
Since 1968, Dracula Limited has traded in Doncaster, South Yorkshire as a manufacturer of fancy-dress and theatrical costumes. It produces a wide range of general theatrical costum
A classmate is considering dropping his or her accounting class because he or she cannot understand the rules of debits and credits. Explain the rules of debits and credits in a wa
In assessing project risk it is significant to be clear about the meaning of risk. From an academic perspective risk demotes to a set of circumstances regarding a given decision wh
The basic EOQ model is depends on the subsequent assumption: 1) The forecast usage or demand for a specified period, usually one year, is identified 2) The usage/demand is ev
Q. Show danger of high financial gearing? A additional danger of high financial gearing is that a company may move into a loss-making position as a result of high interest paym
cheque issued and presented for payment 400 in cash book debit balance
During construction of a building, the cost of interest on a construction loan should be charged to an expense account
Ademption If property which has been specifically bequeathed does not belong to the testator at the time of his death, or has been converted into property of a different kind,
features of branch accounts
Ask questiJohn’s away at the moment, and his email provider has a size limit on the data that can be sent via email. What is a potential solution for John, and name a provider that
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