Reference no: EM133092604
Questions -
Q1. On January 15, 2021, Bella Vista Company enters into a contract to build custom equipment for ABC Carpet Company. The contract specified a delivery date of March 1. The equipment was not delivered until March 31. The contract required full payment of $75,000 30 days after delivery. Determine the revenue for this contract?
recorded on March 31, 2021.
recorded on January 15, 2021.
recorded on March 1, 2021.
recorded on April 30, 2021.
Q2. Crane Inc. charges an initial franchise fee of $3400000, with $610000 paid when the agreement is signed and the balance in 5 annual payments. The present value of the future payments, discounted at 10%, is $2115259. The franchisee has the option to purchase $410000 of equipment for $339000. Crane has substantially provided all initial services required and collectibility of the payments is reasonably assured. Determine the amount of revenue from franchise fees?
$2654259.
$3400000.
$2725259.
$610000.
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How much interest expense is recognized
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Calculate controlling interest in consolidated income
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Determine the prominent methods
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What would be the net income reported
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Determine the amount of revenue from franchise fees
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Describe the principles of direct manipulation
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What is the manufacturing overhead rate
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How much would sales have to increase
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What are the distribution channels
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