Reference no: EM131832732
Luge Co., which began operations on January 2, year 1, appropriately uses the installment sales method of accounting. The following information is available for year 2:
Installment accounts receivable, December 31, year 2 $800,000 Deferred gross profit, December 31, year 2 (before recognition of realized gross profit for year 2) 560,000 Gross profit on sales 40% For the year ended December 31, year 2, cash collections and realized gross profit on sales should be
Cash collections Realized gross profit a. $400,000 $320,000 b. $400,000 $240,000 c. $600,000 $320,000 d. $600,000 $240,000 57. Dolce Co., which began operations on January 1, year 1, appropriately uses the installment method of accounting to record revenues. The following information is available for the years ended December 31, year 1 and year 2:
Year 1 Year 2 Sales $1,000,000 $2,000,000 Gross profit realized on sales made in: Year 1 150,000 90,000 Year 2 -- 200,000 Gross profit percentages 30% 40% What amount of installment accounts receivable should Dolce report in its December 31, year 2 balance sheet?
What amount should conn report
: Conn has a 30% income tax rate. What amount should Conn report as adjusted beginning retained earnings in its year 2 statement of retained earnings?
|
Write a method that computes the average of the neighbors
: Write a method that computes the average of the neighbors of a two-dimensional array element in the eight directions public static double neighborAverage(int[][
|
Shade the area corresponding to the event
: For each of the following 12 events draw a Venn diagram and on it shade the area corresponding to the event: the event
|
What is the stock dividend
: At what percentage point does the issuance of additional shares qualify as a stock dividend, as opposed to a stock split?
|
What amount of installment accounts receivable
: What amount of installment accounts receivable should Dolce report in its December 31, year 2 balance sheet
|
Events on a probability space
: Let A and B be 2 events on a probability space. In terms of p[A], PCB], and P[AB], express (i) for k = 0, 1, 2
|
Events on a probability space
: Let A, B, and C be 3 events on a probability space. In terms of p[A], P[B], P[C], P[AB], P[AC], P[BC], and P[ABC] express for k = 0, 1, 2, 3 (i)
|
What amount should regal report as unearned revenue
: In its December 31, year 2 balance sheet, what amount should Regal report as unearned revenue
|
Produce a random starting configuration and print it
: In your program, produce a random starting configuration and print it. Then keep applying the solitaire step and print the result.
|