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Question - Dealer Dave Inc. (DDI) assists its clients in obtaining new and used vehicles with desired features at the lowest possible price or with good financing terms. Clients fill out a standard form at DDI that lists their preferred type of vehicle and desired features. DDI then researches the client preferences at various new and used car dealerships and presents the best deals to the client. If the client decides to accept a deal, DDI will sign the purchase contract with the client and accept payment or arrange financing on behalf of the dealership. DDI will also arrange delivery of the vehicle to the client. All warranty and any issues after delivery are solely the responsibility of the dealership. DDI charges the client a flat fee of $300. No fees are charged to the dealerships.
Required -
a) Provide two factors that suggest DDI is acting as an agent.
b) Provide one factor that suggests DDI is acting as a principal.
c) Conclude whether DDI is acting as a principal or an agent, and discuss how DDI should record revenue if a client accepts a deal.
Calculate the break-even point in patient days under this contract. develop a break-even for a capitation contract with a major HMO.
Assuming that Pareto acquired 80% of Sareto for $160,000 cash on December 31, 2017, prepare the consolidated balance sheet on the date of acquisition
Financial accounting - Accounting equation, Preparation of Income Statement, Balance Sheet and Statement of Retained earnings of PS Music Co.
Robertson Corporation's inventory balance was $25,500 at the beginning of the year and $38,000 at the end. The inventory turnover ratio for the year was 5.8 and the gross profit ratio 35%. What were net sales for the year?
The balance sheet caption for common stock is the following: Common stock, $5 par value, 4,000,000 shares authorized, 2,800,000 shares issued, 2,500,000 shares outstanding $ ? Calculate the dollar amount that will be presented opposite this caption. ..
Why do we need different tools for analyzing financial statements? Don't the numbers in the financial statements speak for themselves?
Complete the amortisation schedule to determine the interest expenses and lease liability. Round all answers to the nearest dollar.
AAA needs to prepare end-of-year adjustment for interest on the note. Calculate the amount of interest that should be recognized
XYZ Company had 200,000 shares of common stock outstanding on December 31, 2008. On July 1, 2009, XYZ issued an additional 50,000 shares for cash. On January 1, 2009, XYZ issued 20,000 shares of convertible preferred stock.
Cardco Inc. has an annual accounting period that ends on December 31. During the current year a depreciable asset that cost $43,500 was purchased on September 2. The asset has a $4,300 estimated salvage value. The company uses straight-line depreciat..
What The reduction in profit contribution from a decline in sales is? A firm is contemplating shortening its credit period from 30 to 20 days
Briefly define:- • the interest rate, • reserves, and • the required reserve ratio.
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