How much is the total realized gross profit

Assignment Help Financial Accounting
Reference no: EM132789197

Question - On January 1, 2013, Casio Realty Company sold property carried in inventory at a cost of P840,000 for P1,400,000. A 10% down payment was made and the balance payable in 4 equal installments of P363,625, inclusive of 12% annual interest, payable semi-annually every June 30 and December 31. Under installment method, how much is the total realized gross profit in 2013?

a. P 293,332.60

b. P 346,900

c. P 308,000

d. P 237,332.60

Reference no: EM132789197

Questions Cloud

Describe aspects of experiential group along with the styles : The purpose of this assignment is for you to observe effective group leadership practices and reflect on your own group experiences and group leadership skills.
Transition toward becoming virtual organizations : Select three problems that brick-and-mortar organizations face as they transition toward becoming virtual organizations.
What is the option value of the bond : The conversion ratio is 25 shares. The interest rate for straight debt is 10%. What is the option value of the bond
Four career issues in the new workplace : What are the four career issues in the new workplace facing managers today? Discuss one of the major challenges
How much is the total realized gross profit : Casio Realty Company sold property carried in inventory at a cost of P840,000 for P1,400,000. How much is the total realized gross profit
Describe the six sigma process : Describe the Six Sigma process. Explain each of the five steps of a Six Sigma project.
Responsibilities of the office of inspector general : What are the major responsibilities of the Office of Inspector General as they relate to coded healthcare data?
Explain the processes involved when drugs such as cocaine : Explain the processes involved when drugs such as cocaine, marijuana, mescaline or alcohol enter the brain. You may draw a diagram to amplify your explanation.
Differentiate between vertical and horizontal structure : -Differentiate between vertical and horizontal structure -Differentiate between Routine task and empowered roles

Reviews

Write a Review

Financial Accounting Questions & Answers

  How much is the per unit manufacturing cost per unit

Cinder Company had the following department information for the month: Total materials costs $80,000 Equivalent units of materials 10,000. Total labor cost of $60,000 and manufacturing overhead of $60,000. Equivalent units of conversion costs 20,000 ..

  Define equity investments and debt investments

Skyscraper Property, Define equity investments and debt investments and explain which investment is better for the firm in the long-run.

  Journal entry to record its acquisition of perot systems

In Fiscal 2010, Dell Inc. acquired Perot Systems for $3,878 million in cash. Perot's net assets acquired hand the following fair values at the acquisition date. Prepare Dell's journal entry to record its acquisition of Perot systems, as a merger.

  Determine how much of the rental cost should be allocated

Based on this information, Determine how much of the rental cost should be allocated to the products made in January and to those made in February?

  Compute return on investment in dollars

If the correlation coefficient between the two shares is negative. What does this imply regarding the relationship between the two shares?

  What specific line item on the financial statements

What specific line item on the financial statements (i.e. Cash flow, Balance sheet, Income Statement) would be a good be great identifiers (red flags) ?

  How much discount was allowed to customers

General provision for doubtful debts set up in June 10,000 Assuming no other transactions, how much discount was allowed to customers

  Calculate the amount of sales revenue reported

The following selected account balances were taken from Buckeye Company's general ledger at January 1, 2005 and December 31, 2005: January 1, 2005 December 31, 2005 Accounts receivable 50,000 71,000 Inventory 39,000 28,000. Calculate the amount of sa..

  What would be the adjustment to be done in accounting books

What would be the adjustment to be done in the accounting books for this asset at year end? A machine which was acquired three years ago for 78.000 €

  The employees are entitled to a pension

After reading the company’s background information in each scenario, complete the corresponding tasks. Bright company has several employees. The employees are entitled to a pension, which is set up as a defined contribution plan. Based on a formula, ..

  Calculate the discounted present value of taxes paid

Calculate the discounted present value of taxes paid over the three periods for each of the workers under a 15 percent comprehensive income tax.

  Explain how hrm technology can improve the efficiency

A detailed response please.  Explain how HRM technology can improve the efficiency and effectiveness of HRM functions. What evaluation measures can be used to assess the impact on the business strategy?Provide an example.

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd