User Account

All Pages

Determine the transaction price of the osgilith mri machines

Assignment Help Financial Accounting
Reference no: EM132931828

Question - Palantir Corp. sells specialized equipment to the healthcare industry. Palantir pays its sales agents a salary plus a 5% commission on sales. Sales agents employed by the company sold 10 Osgilith MRI machines that were delivered and installed in January 2017. The MRI machine sells for $45,600 due at the end of 12 months. Alternatively, customers may elect to pay $40,000 at delivery and installation. All customers purchasing machines during January elected to pay at the end of the 12-month period.

Required -

1. Determine the transaction price of the Osgilith MRI machines, and discuss how Palantir would account for the sales commission.

2. Discuss whether the delayed payment contract contains a significant financing component.

3. Prepare the journal entries for 2017 for the Osgilith MRI machines sold by Palantir to customers who elect the delayed payment option.4.Prepare the 2017 journal entries that Palantir would make for the 10 Osgilith MRI machines that are sold if customers elect to pay at delivery.

Reference no: EM132931828

Questions Cloud

Compute earnings per share : Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2021. Compute earnings per share for 2021
What is the total manufacturing costs per unit : Using the physical measure to allocate joint costs, what is the total manufacturing costs per unit for X, assuming that the by-product is valued at zero cost
The school of business-economics and technology : The School of Business, Economics, and Technology would like to know how you feel about your learning experience in the MSITM program,
Fundamental security design principles : Compare and contrast two fundamental security design principles. Analyze how these principles and how they impact an organization's security posture.
Determine the transaction price of the osgilith mri machines : Determine the transaction price of the Osgilith MRI machines, and discuss how Palantir would account for the sales commission
Write an explanation to the management of abc limited : Write an explanation to the management of ABC Limited, the impact of pricing strategies on business profitability and success
Five security-related rules for staff members : Based on this chapter, create at least five security-related rules for staff members who are adding web pages being added to your site.
Calculate? sharpe measure for your portfolio : Your portfolio had a standard deviation of earnings equal to 22?%, and the? risk-free rate is equal to 3.9?%. Calculate? Sharpe's measure for your portfolio
What do you think of hactivism : How has the term hacking changed meaning over the years? What was the vulnerability in the Target Breach? What do you think of hactivism?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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