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On November 1, 20X1, Gerakos Corporation sold software and a six-month technical support contract to a customer for $80,000. Gerakos sells the same software without technical support for $60,000. It sells technical support for $30,000. Gerakos allocates the transaction price based on relative stand-alone values
Problem 1: What amount of revenue does Gerakos recognize in 20X1 and in 20X2?
problem 1. ninja co. issued 15-year bonds a year ago at a coupon rate of 7.5 percent. the bonds make semiannual
A company's Cash account shows a balance of $3,420 at the end of the month. Comparing the company's Cash account with the monthly bank statement reveals several additional cash transactions such as bank service fees.
A company currently completed 45,000 units of a product that was expected to consume four pounds of direct material for each finished unit. The standard price of direct material was $8 per pound.
How is the derivate presented? A derivative is entered into with the intention to hedge certain risks. Fair value hedge accounting is applied
Which would help reduce audit risk to an acceptably low level? Conducting more audit procedures at an interim date rather than at the period end
What ABC Co. should record the cost of the machine received at? ABC Co. exchanged a used machine with XYZ Co. for a similar machine.
What would be the post-closing trial balance total? Conner Corporation's adjusted trial balance included the items Accounts payable
We are evaluating a project that costs $113,487, has a seven-year life and has no salvage value. What is the NPV of the project in best-case scenario?
Transportation Inc. incurred rent expense of $98,000 during the year. Prepaid rent increased by $34,000 during the year. How much cash did Transportation pay
What is the amount of depreciation expense for? 2020, if the company uses the doubleminus -decliningminus -balance method of? depreciation?
What financial ratios would you use to measure the ability of a company to pay its liabilities? What would each of the ratios that you identified tell you? Be specific.
Without incriminating yourself, please describe instances where "Cash Based" transactions could happen in our local economy or even nationally. Then offer a suggestion for the government, if one is available but if not justify why not, to capture tax..
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