User Account

All Pages

How much revenue should boogie recognize

Assignment Help Accounting Basics
Reference no: EM132773797

Question - On July 10, Boogie Footware agrees to a contract to sell 800 pair of flapper shoes for $16,000 ($20.00 each).

On September 1, after 500 pair of have been delivered, Boogie modifies the agreement to reduce the price of the remaining 300 pair of flapper shoes to $10 a pair.

During September, Boogie delivers 200 pairs of shoes.

Required -

a. How much revenue should Boogie recognize for the 500 pair that were delivered prior to September 1?

b. On September 1, when the contract is modified, prepare the necessary adjusting entry:

Debit

Credit

c. How much revenue will Boogie recognize for the 200 pair delivered in the month of September?

Reference no: EM132773797

Questions Cloud

Socio-economic corporate social responsibility : The late American economist, Nobel Prize winner in economics, much revered, and much reviled, Professor of Economics at the University of Chicago
What are some psychosocial causes of sexual dysfunction : What are some psychosocial causes of sexual dysfunction? How might sex therapy be used to treat some of these causes? Just need 135 words.
Concepts and values of the management functions : · Describe the concepts and values of the management functions.
Ikujiro nonaka and hirotaka takeuchi knowledge : Explain the relationship between the Ikujiro Nonaka and Hirotaka Takeuchi knowledge management system and how it works with the KM cycle tasks in creating infor
How much revenue should boogie recognize : How much revenue should Boogie recognize for the 500 pair that were delivered prior to September 1
Role of relationship development and management : -What is the role of relationship development and management in effective leadership, and how are these concepts used in improving leadership effectiveness?
Provide the entry to record the payment on may : Provide the entry to record the payment on May 1? Entity D acquired a piece of land on April 1, 2020. The purchase price was reduced by a credit for the real
Establishing an organizational security education : What are the issues involved in establishing an organizational security education, training, and awareness program.
Describe the treatment approaches for each disorder : Create a 6 slide PowerPoint presentation discussing the disorders. Include the following in your presentation: Treatment approaches for each disorder.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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