Recording the sale of goods to company

Assignment Help Accounting Basics

Reference no: EM13143794

Suppose Company A places an order with Company B on May 12. On May 14, Company B ships the ordered goods to Company A with terms FOB destination. The goods arrive at Company A on May 17. Company A begins selling the goods to customers on May 19 and pays Company B on May 20. When would Company B record the sale of goods to Company A?

a) May 12

b) May 14

c) May 19

d) May 17

Reference no: EM13143794

Questions Cloud

Estimate true proportion of home owners-vegetable gardens : A report states that 46% of home owners had a vegetable garden. How large a sample is needed to estimate the true proportion of home owners who have vegetable gardens to within 3% with 96% confidence?

How might fundamentally changing accounting standards : How might fundamentally changing accounting standards from "bright-line" rules to principle-based standards help prevent another Enron-like fiasco in the future? Are there dangers in removing "bright-line" rules? What difficulties might be associa..

How the leading and lagging strands of dna are synthesized : What accounts for the difference in how the leading and lagging strands of DNA are synthesized? a. DNA polymerase can work on only one strand at a time. b. The origins of replication occur only at the 5' end. c. DNA polymerase can join new nucleot..

Computing deferred tax reported : Tax depreciation for the year exceeded book depreciation by $50,000. The tax rate for Year 3 was 30%, and Congress enacted a tax rate of 40% for years after Year 3. What is the deferred tax reported on William's December 31, Year 3, balance sheet?

Recording the sale of goods to company : Suppose Company A places an order with Company B on May 12. On May 14, Company B ships the ordered goods to Company A with terms FOB destination. The goods arrive at Company A on May 17. Company A begins selling the goods to customers on May 19 an..

Psychology is a science : Psychology is a science and based on scientific methodology to establish, support, and refute psychological theories and systems. For any student, whether he or she is a psychology major or not, it is important to understand and be able to access pas..

What amount should gordon report as inventory on its june : Goods shipped FOB destination on June 28,2011, from a vendor to gordon were receive on july 3,2011. The invoice cost was $2,500. What amount should gordon report as inventory on its June 30,2011, balance sheet?

Estimate mean weekly earnings of students at one college : We want 95% confidence that the sample mean is within $5 of the population mean, and the population standard deviation is known to be $63.

Why there are multiple origins of replication : Why there are multiple origins of replication on eukaryotic DNA? a. To establish multiple copies of DNA simultaneously. b None of these is correct. c. To minimize errors in DNA replication. d. To reduce the time necessary for DNA replication

User Account

All Pages