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Rocky Guide Service provides guided 1-5 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead various tours that Wilderness sells. Rocky receives $3,000 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $300 bonus per tour day it guided during the previous month if its service during that month received an average evaluation of "excellent" by Wilderness customers. The $3,000 per day and any bonus due are paid in one lump payment shortly after the end of each month.
Rocky bases estimates of variable consideration on the expected value it expects to receive.
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Question 1: Prepare the journal entries to record the transactions above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
Which element of internal control deals with establishing procedures for things such as handling of income checks
Account Titles and Explanation Debit Credit
on january 1 2014 blair corporation purchased for 500000 a tract of land site number 101 with a building. blair paid a
A storage tank acquired at the beginning of the fiscal year at a cost of $79,200. Determine the amount of annual depreciation by the straight-line method
Access the March 25, 2010, filing of the 10-K report of Home Depot for the year ended January 31, 2010, from www.sec.gov (Ticker: HD).
What dangers exist related to computer output such as reports?
A particle known as a pion lives for a short time before breaking apart into other particles. Suppose a pion is moving at a speed of 0.990c, and an observer who isstationary in a laboratory measures the pion's lifetime to be ? . What is the lif..
Jordan Company buys equipment for $50,000 that will last for 4 years. What is the internal rate of return (IRR) of this investment
Milo Company manufactures beach umbrellas. The company is preparing detailed budgets for the third quarter and has assembled the following information to assist in the budget preparation:
On the first day of the fiscal year, a company issues a $972,000, 10%, 5-year bond that pays semiannual interest of $48,600 ($972,000 x 10% x 1/2).
Many cafes are putting sensors on the bottom of cups to help alert the wait staff that a customer needs a refill. Would you introduce this technology to the cafe? If so, are there any concerns with using this type of technology?
Calculate the number of units that must be sold each month for the firm to break even. Assume current sales are $420,000. Calculate the margin of safety and the margin of safety ratio.
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