How much revenue should franco recognize for august

Assignment Help Financial Accounting
Reference no: EM132475151

Point 1: 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.

Question 1: How much revenue should franco recognize for august 2018

Reference no: EM132475151

Questions Cloud

Write a professional report including a data recovery plan : Write a professional report that includes a data recovery plan outline, listing the steps to be performed and the Windows and two third-party tools to be used.
What is the consequence of failing to make adjusting entry : What is the consequence of failing to make an adjusting entry at the end of the first quarter for the amount of supplies that been used during the quarter?
Review and address areas of opportunities : Kirk (2016) states composition is reviewing every visual property of the design. The final layer of design thinking concerned composition: how to position.
Address the aging of america : Describe one organization or public policy that is a resource that is in place to address the aging of America (this is a macro level investigation of aging).
How much revenue should franco recognize for august : Determine how much revenue should franco recognize for august 2018. Franco Inc. is a publicly traded company in the united states.
Overconformity to the norms of the sport ethic : On-the-field violence is related to a number of things including overconformity to the norms of the sport ethic, commercialization
Describe the methods for managing procurement risks : The CFO of your chosen organization wants the organization to purchase and integrate six new web servers. The CIO envisions more business travelers using.
Relationship between law and society in the article : What does the author's research reveal (directly and/or indirectly) about the relationship between law and society in the article on, Litigating Parentage
What is the topic of the article on litigating parentage : What is the topic of the article on, Litigating Parentage: Equal Rights LGBT Mobilization and Ontario's all Families are Equal Act?

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!

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