User Account

All Pages

Prepare the journal entries for Middle East company

Assignment Help Accounting Basics
Reference no: EM133101099

Question - Middle East is a full-service technology company. They provide equipment, installation services as well as training. Customers can purchase any product or service separately or as a bundled package. Customer purchased computer equipment, installation and training for a total cost of JOD 144,000 on March 15, 2018. Estimated standalone fair values of the equipment, installation and training are JOD90,000, JOD60,000 and JOD30,000 respectively. The computer equipment is delivered on March 28, 2018 and the customer pays Middle East company JOD120,000. Middle East company completes installation and training on April 5. 2018, and the customer pays the remaining balance due. Prepare the journal entries for Middle East company on March 28, 2018.

Reference no: EM133101099

Questions Cloud

Apply Contract Law principles : Apply Contract Law principles. Ignore the operation of Sale of Goods Act and Australian Consumer Law (ACL).
What is the effective cost of the trade credit : Suppose that your company is purchasing raw materials with the credit terms offered by the supplier being 3/5, Net 30. What is the effective cost of the trade
Scientific Data and Material Properties Assignment : Scientific Data and Material Properties Assignment - Examine both quantitative and qualitative data and ensure appropriate software is used to give graphical
Why are Brazil and Dominica upset : Why are Brazil and Dominica upset? How do the effects differ in the two districts? What could Brazil and Dominica do in response
Prepare the journal entries for Middle East company : Middle East company completes installation and training on April 5. 2018, and the customer pays the remaining balance due. Prepare the journal entries
Environmental scanning strategy : Determine how to create value and sustain competitive advantage using the environmental scanning strategy.
What is the value of the firm : What is the value of the firm with an EBIT of $41,300, depreciation of $1,200, interest of $850, and taxes of $210. The EBITDA multiple is 9.6
What is the company WACC : The risk-free rate is 2.4 percent, the market risk premium is 7.3 percent, and the tax rate is 35 percent. What is the company's WACC
About the performance management process : Describe what you like and dislike about the performance management process at your employer

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the equivalent units of production for may

The May 1 work in process inventory consisted of 19,300 pounds with $15,900 in materials cost, Determine the equivalent units of production for May

  Compute her basis in the ring

The FMV at the time of the gift was 13000. They broke up and she sold the ring on December 20, 2017 for $12000. Compute her basis in the ring

  Prepare any necessary adjusting entries at december

Prepare any necessary adjusting entries at December 31, 2015, for Maxum Company's year-end financial statements

  What percent of the taxpayer taxable income derived

What percent of the taxpayer's taxable income derived from the natural resource for the year before deducting the depletion deduction

  The initial estimates were that the project would cost

quillen company is performing a post-audit of a project completed one year ago.the initial estimates were that the

  What was the percentage change in net income

A company reported $175,000 of net income for 2020, $245,000 for 2021, and $220,500 for 2022. What was the percentage change in net income

  What is the actual CVP equation

There are so many equations when it comes to the Cost-Volume-Profit and they confuse me just starting out. What is the actual CVP equation

  Make a flexible budget for Johnny Lee

Make a flexible budget for Johnny Lee for each of the following monthly levels of machine hours: (a) 5,700, (b) 6,700, and (c) 7,700

  The intangible benefits mar-bal appears to enjoy

12-22. Mar-Bal's New ERP System (Analyzing an ERP Study and Implementation)Access the full case story of Mar-Bal Company (the AIS-at-Work for this chapter) at www.iqms.com. Then, respond to each of the following requirements:

  Classsify the following costs as variable

Classsify the following costs as variable (V), fixed (F), or semivariable (S) in terms of their behavior with respect to volume or level of activity.

  How much revenue should spenders company allocate

The total price for the 100 dishwashers is $190,000. How much revenue should Spenders Company allocate to the maintenance services

  Record the bad debts expense

Management estimates that 1% is the sales percentage to use. What adjusting entry will Hahn Company make to record the bad debts expense?

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