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Scenario: Assume that a manufacturing company usually pays a waste company (by the pound to haul away manufacturing waste. Recently, a landfill gas company offered to buy a small portion of the waste for cash, saving the manufacturing facility a portion of its disposal costs and providing it with proceeds from the disposal.
The sale of manufacturing waste is not a primary business activity of the manufacture; however, it will now result in an inflow of cash.
Which is more appropriate-classifying this transaction as an increase in revenue, a decrease in expense or as a gain?
Analysis-Record the transaction as increase in revenue or decrease in expense? alternatively, should the transaction be recorded as a gain?
Attachment:- Scenario 3.rar
Verified Expert
"The assignment relates to the accounting treatment for revenues which are earned from sale of scrap and other waste materials. It is relatively important to classify the revenue into various sub categories so that a proper analysis can be achieved"
Heading (To, from, date, RE) Facts: Issues: Analysis: Issue- code connect code to issue conclusion: disclosures to financial statement: really good work however, could you please provide the FASB Codification used? Could he write it on the paper were used it? For example 610-10-01. Thank you for the A I got in this assignment. The Expert is able to complete my requirement in such a short time and the quality of the assignment is definitely surpass what i expected. Thanks
You should follow this format Heading (To, from, date, RE): Facts: Issues: Analysis: Issue- code, connect code to issue, conclusion: disclosures to financial statement.
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