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(Revenue recognition-point of sale) Jupiter Company sells goods on January 1 that have a cost of $500,000 to Danone Inc. for $700,000, with payment due in 1 year. The cash price for these goods is $610000, with payment due in 30 days. If Danone paid immediately upon delivery, it would receive a cash discount of $10,000.
Introductions
Prepare the journal entry to record this transaction at the date of sale.
How much revenue should Jupiter report for the entire year?
1.on january 1 forrester county is holding investments for tinsel town valued at 800000 in an investment pool accounted
What is the amount of qualifying expenses for purposes of the American opportunity tax credit (AOTC) in 2010? What is the amount of the AOTC that Jeremy and Celeste can claim based on their AGI?
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this is my situation i own a used car lot i sold and report to department of revenue in sales the amount of 720.000
Flowers and Flowers, Inc., has two divisions. Division A has an investment base of $750,000 and produces (and sells) 100,000 units of Eyne at a market price of $10.00 per unit. Variable costs total $3.50 per unit, and fixed charges are $4.00 per unit..
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Prepare the journal entries that should be recorded in 2011 relative to the premium plan and premium Entries to stimulate the sales of its Alladin breakfast cereal, Loptien Company places 1 coupon in each box. Five coupons are redeemable for a prem..
Without regard to your answer in (2) above, assume manufacturing overhead was underapplied in December. Explain how would this amount be reported in the company's financial statements at December 31?
The dividend is payable on October 12 to the stockholders of record on September 30. Give journal entries necessary on September 15, September 30, and October 12, 2010.
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