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Given the following scenario, indicate when the firm should recognize revenue and why. Tomson Telecom maintains an inventory of telecommunications equipment. One of their customers, Bayone Telephone Company placed an order for 10 new transformers valued at $5 million and Tomson delivered them just prior to December 31. Thomson's normal business practice for this class of customer is to enter into a written sales agreement that requires the signatures of all the authorized representatives of Thomson and its customers before the contract is binding. However, Bayone has not signed the sales agreement because it is awaiting the requisite approval by the legal department. Bayone's purchasing manager has oral agreed to the contract and assured you that the contract will be approved by the end of January.
there were 6000 units in beginning inventory. during the year the company manufactured 60000 units and sold 63500
1. one potential advantage of financing corportations through the use of bonds rather than common stock isa.the
prepare journal entries to record the following transactions entered into by flip company
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Provide at least one college level paragraph. Examples would be helpful and appreciated, Thank you.
Amber city borrowed $1,000,000 secured by a 5-year mortgage note. This cash from the note was used to purchase a building for vehicle and equipment maintenance. Show how these two transactions should be recorded in the General Fund and governmenta..
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which of the following statements is true regarding the potential effects of using reported product costs for decision
The audit procedure of analyzing the repairs and maintenance accounts is primarily designed to provide evidence in support of the audit proposition that all
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