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Franco Inc. is a publicly traded company in the united states. The company purchased a piece of land for operational usage in 2014. The Acquisition cost for the land was $1million but its current market value as of august 2018 is 1.2 million. In august 2018, franco inc. purchased 500 unites of products for 15,000 (unit cost is the same for each product), sold and shipped 350 unites to a long term customer for a total invoice price of 17500. Customer A paid 10,000 cash and promised to pay the balance in the next two months. In august, another customer, paid 5000 cash to franco for 100 units of products to be shipped to the customer at the end of September.
How much revenue should franco recognize for august 2018
In one year, a company had $30,000 Sales Revenue on credit. At the start of the year, the Accounts Receivable showed a $6,000 debit balance and the Allowance for Doubtful Accounts showed a $400 credit balance.
Critically discuss the role of risk management on the performance of listed companies in Italy in terms of market reaction (taking longer time to react)
The tax law provides four methods of cost recovery for assets: 1) immediate deduction of the total cost when paid or incurred; 2) deferral of cost until the property is sold or otherwise disposed of; 3) deduction based on a percentage of income from ..
Accounting for share issues and options Sunny Ltd is looking to expand its operations, and in order to do this, the company needs to increase equity. On 1 January 2016, Sunny Ltd offered 4,000,000 ordinary shares to the public at an issue price of $3..
Information that a listed company has incurred exceptionally high losses during a financial year has been disclosed.
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On July 1st 2015 ACME Company issued $20 million non-interest 1 year note to the bank who has a stated 10% discount rate. Principal and interest will be paid at maturity. What was the effective interest rate that ACME paid on this note?
Prepare a schedule assigning activity's overhead cost pool to each service based on the use of the cost drivers and classify each of the activities as a value-added activity or a non-value-added activity.
your client holds the long leasehold interest in the surveyor and clipboard a restaurant which is on the fringe of a
The Sneed Corporation issues 10,000 shares of $50 par value preferred stock for cash at $75 per share. The entry to record the transaction will consist of a debit to Cash for $750,000 and a credit or credits to:
Complete Blue Catering Service Inc.'s (BCS) 2014 Form 1120, Schedule D, and Schedule G (if applicable) using the information provided
A company must repay the bank a single payment of $31,000 cash in 6 years for a loan it entered into. The loan is at 10% interest compounded annually.
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