Illustrate what is the total amound of green installment

Assignment Help Financial Accounting

Reference no: EM13123472

Green Company, which began operation on January 1, 1990, appropriately uses the installment method of accounting. The following information is available for 1990:

Gross profit on sales 40%
Deferred gross profit at 12/31/90 $240,000
Cash collected, including down payments 450,000

What is the total amound of Green's installment sales for 1990?

a. $600,000
b. $690,000
c. $850,000
d. $1,050,000

Reference no: EM13123472

Questions Cloud

What is the resulting interest rate often called : Identify the authoritative literature that provides guidance on the zero-interest-bearing note. Use some of the examples to explain how the standard applies in this setting.

Test claim that drug has changed mean ph of blood : Blood tests showed a sample mean of 8.1 pH with sample standard deviation s = 0.6 pH. Use a 5% level of significance to test the claim that the drug has changed (either way) the mean pH of the blood.

Stockholders equity section problem : The stockholders' equity section of Milroy Corporation as of December 31, 2003, was as follows:

What determinants affect supply : what determinants affect supply and what affect demand. Once you have drawn in your change, write a short explanation for each question discussing what would be the new equilibrium price and quantity levels because of this change.

Illustrate what is the total amound of green installment : Green Company, which began operation on January 1, 1990, appropriately uses the installment method of accounting. The following information is available for 1990: Illustrate what is the total amound of Green's installment sales for 1990?

Compute the initial value problem : Compute the Initial Value Problem, Let G be a bipartite graph partitioned into vertex sets V and W. Assume all vertices have the same degree. Show G has a perfect matching.

Find percentage of persons who want to go to europe : Has there been a significant shift upward in the percentage of persons who want to go to Europe? Using the .05 significance level for this study.

Equations of straight lines : A line passes through the point (6, -6) and has a slope of -3. Write an equation for this line in (x, y) coordinates. Write equations for the vertical and the horizontal lines passing through the point (6, 1) in (x,y) coordinates.

Explain how much loss should hansen have recognized : Hansen Construction, Inc., has consistently used the percentage-of-completion method of recognizing income. During 1997 Hansen started work on a $3,000,000 fixed-price construction contract. Explain how much loss should Hansen have recognized in ..

User Account

All Pages