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Question - Sarjit Systems sold software to a customer for $166,000. As part of the contract, Sarjit promises to provide "free" technical support over the next six months. Sarjit sells the same software without technical support for $144,000 and a stand-alone six-month technical support contract for $36,000, so these products would sell for $180,000 if sold separately. Prepare Sarjit's journal entry to record the sale of the software.
Companies should record stock issued for services or noncash property at either the fair value of the stock issued or the fair value of the consideration received.(True/False)
What percentage of the variation in overhead costs is explained by the independent - What is the expected contribution margin per unit
Prepare the journal entries for the year ended 30 June 2012 to account for the above transactions.
What was the total of accounts written off during the first 11 months and write a brief explanation to the sales representative explaining the effect that the write-off of this account receivable would have had on 2010 net income.
Compute and explain briefly the term cost of capital. The company's marginal tax rate is 40% and depreciation is an allowable deduction for income tax purposes.
hellas pty. ltd had the following balances on the 1st of july 2013materials control direct and indirect materials 5000
Compute the break-even point in dollars for 2012 and compute the break-even point in dollars under each of the alternative courses of action
Topic: Absorption Costing 1. Which of the following types of costs are classified as period costs under absorption costing, but not under variable costing?
Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. Carry unit costs to the nearest cent.
Describe the effect of the errors on the income statement and balance sheet and is this company profitable? How do you determine whether or not this is the case?
How Fischer Company would be better off by? If Fischer buys the part, 75 percent of the applied fixed overhead would continue.
Calculate the unit cost for each product using direct labour hours as the basis for applying overhead and calculate the unit cost for each product using activity-based costing (ABC).
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