User Account

All Pages

Compute what the realized gross profit on installment sales

Assignment Help Accounting Basics
Reference no: EM132674803

INSTALLMENT SALES

TROPICO Enterprises started operations on October 1, 2016. The following information are summarized for the first three months:

Installment receivable, Dec. 31 P1,500,000

Deferred gross profit, Dec. 31 (unadjusted) 1,050,000

Gross profit on sales 25%

Problem 1: The realized gross profit on installment sales during the 1st three months amounted to

Reference no: EM132674803

Questions Cloud

Congressional Ethics-ethics violations : Congressional Ethics. Identify one member of Congress who has been charged with ethics violations. Identify one current issue facing the United States today.
New fx operating exposure after operational hedging : Norse Inc. a U.S. based exporter that exclusively sells its products in Great Britain. Norse, expects to sell 2,000 units at a price of GBP 10.00 per unit
What was collected on the contract during the period : The company expects to make a 20% gross profit on the sale of used cars. During the period P270,000 was collected on the contract.
Different political actor-processes with federal government : Summarize recent developments in several states enacting voter ID laws. Expansive interaction by different political actor and processes with federal government
Compute what the realized gross profit on installment sales : Deferred gross profit, Dec. 31 (unadjusted) 1,050,000. What the realized gross profit on installment sales during the 1st three months amounted to
Set up a synthetic forward position : Which choice is more favorable, the actual forward contract or set up a synthetic forward position?
What amount will a show equipment at balance sheet : The equipment had an estimated useful economic life of 5 years at that date. At what amount will A show equipment at its balance sheet at January 1, 2015?
Identifying challenges associated with research projects : Review the current version of your research proposal, identifying aspects that might pose challenges during the actual research study.
What nikki capital balance will be : Assume that the partners agreed to let Nikki into the partnership by investing P1,000,000 for a one-fourth interest. Nikki's capital balance will be

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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