Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - Fabulous Athletics offers a monthly subscription box for $40 where a new pair of leggings is automatically sent to subscribers on the first day of the month. If a customer does not like their leggings, they can send the leggings back before the last day of the month free of charge in exchange for a store credit. Historically, 30% of customers send back their leggings each month. A member's credit card is automatically billed on the first day of the month; if there are any concerns regarding the credit card, the subscription box is not shipped, and the member's account is put on hold. Shipping terms are f.o.b. shipping point. During the month of September 2020, the company had 5,000 members. The cost of each subscription box to Fabulous Athletics is $15. The company reports under ASPE. Required: Start this question on a new page. Show all calculations and analysis to get full marks.
a) Prepare the journal entries that Fabulous Athletics will need to record in September 2020 for both the sale of subscription boxes and the related cost of goods sold.
b) Would your answer in Part A be different if the company used IFRS? Show how the journal entries would be different, if applicable.
He legislature revised the budget by reducing estimated sales tax revenues by $ 125,000 and reducing the appropriation for General government all other by $ 75,000.
Required: prepare the consignment account in the books of consigner.
What other major items affected cash flows for each firm? Did the cash flow from operations cover the dividend payment made by the firm (if any)
Generally speaking, many companies are interested in the potential cost savings of using the same product and promotional mix on a global basis. It is easier to control the program and less time is required in developing the marketing plan. Howeve..
use the following selected date and additional information from the records of hitchcock corporation to answer the
Determine IHOP's net present value for a new restaurant, assuming a 10-year life, no change in annual revenues, and a 10% desired rate of return
The balance in unearned fees represented the February 1 receipt in advance for services to be provided. Only$1,600 of the services was provided between February 1 and February 28.
u.s. pump is a multidivisional firm that manufactures and installs chemical piping and pump systems. the valve division
Underapplied and Overapplied Overhead San Antonio Welding Company applies factory overhead at a rate of $8.20 per direct-labor hour.
For the year ended December 31, 2020, Transformers Inc reported the following: Net income $300,000. What would Transformers report as total stockholders equity
Storm paid no installation charges under the monthly payment plan but a $200 installation charge would have been incurred with a cash purchase. The amount to be capitalized as the cost of the machine on October 31, 2010 would be ?
degrees inc. a manufacturer of frozen food began operations on july 1 of the current year. during this time the company
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd