User Account

All Pages

How much should be recorded as revenue on october

Assignment Help Accounting Basics
Reference no: EM132135000

Question - On October 1, Nathan4U, Inc. made a $25,000 sale on account with the following terms: 1/15, n/30. If the company method to record sales made on credit, how much should be recorded as revenue on October 1?

Reference no: EM132135000

Questions Cloud

Small car wash business : Eric owns a small car wash business. He follows a fairly simple process to wash the cars.
Determine the equal deposits required to accumulate : Assuming the fund will earn 10% compounded annually, determine the equal deposits required to accumulate $500,000 in the fund by the time Mr. X is 65
Discuss potential unionization : Discuss potential unionization, how would you explain to the CEO that a union could potentionally benefit the organization?
Determine the preliminary judgment about materiality : Why is net income before tax the most common base used to determine the preliminary judgment about materiality
How much should be recorded as revenue on october : If the company method to record sales made on credit, how much should be recorded as revenue on October 1
What are the states of markov chain : What are the states of Markov chain? Determine the one-step transition matrix, P, for the Markov chain.
Calculate the probability that the project will be completed : Calculate the probability that the project will be completed in 39 weeks or less.
What additional ethical concerns are relevant : Apply this knowledge to your own personal area of interest as identified in the Introduction Discussion. What additional ethical concerns are.
How deductible amounts recognized in financial statements : Explain what is meant by future deductible amounts. Describe at least one situation that has this effect. How are future deductible amounts recognized

Reviews

Write a Review

Accounting Basics Questions & Answers

  If all assets and current liabilities are expected to

suppose that gyp sum industries currently has the balance sheet shown below and that sales for the year just ended were

  Kobyashi moru reports its inventory fixed assets

kobyashi moru reports its inventory fixed assets depreciation and cost of goods sold on a current value basis fair

  Identify the primary advantages of the corporate form

Identify the primary advantages of the corporate form of business.

  Determine the correct inventory amount on december

Josef received goods costing $41,900 on January 2 that were shipped FOB destination on December 29. Determine the correct inventory amount on December 31

  Prepare the entry to record the mortgage loan

Jenseng Inc. issues a $800,000, 10%, 10-year mortgage note on December 31, 2017, to obtain financing for a new building.

  Straight-line amortization and annual interest payments

Assuming straight-line amortization and annual interest payments, how much bond interest expense is recorded on the next interest date

  Product a has a sales price of 11 per unit based on a

product a has a sales price of 11 per unit. based on a 9000-unit production level the variable costs are 6 per unit and

  Difference working in public accounting vs corporate sector

The differences between working in public accounting versus in the corporate sector. Recent significant events impacting the accounting profession such as the passage of Sarbanes-Oxley Act (SOX), the convergence between U.S. GAAP and IFRS.

  Summit industries has a past history of uncollectible

Summit Industries has a past history of uncollectible accounts, as shown below. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule you completed in Exercise 9-8.

  Evaluate accounts receivable internal control

Evaluate accounts receivable internal control and conclude the IC risk as being low. Also, you have estimated inherent risk low. The total balance in AR is relatively low.

  Beacon company maintains and repairs warnings lights

Beacon Company maintains and repairs warnings lights, such as those found on radio towers and lighthouses. Beacon Company prepared the end-of-period spreadsheet shown on the next page at October 31, 2012, the end of the current fiscal year.

  Change the compensation of salespersons from fixed annual

gorham manufacturings sales slumped badly in 2012. for the first time in its history it operated at a loss. the

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