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Question - On September 1, 2021, Gemini Company sold 200,000 key chains to Leo Company at $3 per chain. 100,000 of the chains were delivered on December 1, 2021, and the remaining chains were delivered on January 18, 2022. Payment terms were 50% due upon placement of order, 25% due on delivery 1, and 25% due on delivery 2. What amount of revenue should Gemini recognize in 2021? Gemini's fiscal year is the same as the calendar year.
a. $600,000
b. $300,000
c. $450,000
d. $150,000
e. None of the answers are correct
1. Evaluate Joe's actions and motives using ethical reasoning and with reference to the AICPA Code of Professional Conduct. 2. Evaluate Joe's actions from a cognitive development perspective.
Land with an assessed value of $400,000 for property tax purposes is acquired by a business for $525,000. Should the monetary amount assigned to the land
Question - On January 1, 2019, Fitbit goes public and issues 50 million shares at $20 per share. What is the January 1, 2020 balance of common stock & APIC
Madison River Inflatables Co. paid $1,425 to install a hydraulic lift and $35 for an air filter for one of its delivery trucks. Journalize the entries
The bank statement shows RM20 as bank service charge. Prepare the Bank Reconciliation Statement for Husna Sdn Bh as at 30 June 2021
Compute the amount of depreciation expense for the year ended December 31, 2014, using the double-declining balance method of depreciation.
Beech Company produced and sold 105,000 units of its product in May. For the level of production achieved in May, the budgeted amounts were: sales, $1,300,000.
The partners agree to receive an equal capital interest in the partnership. Using the bonus method, what is the capital balance of Tim
the wade division of geisler corporation has a current roi of 20 percent. the company target roi is 13 percent. the
Clara received from her Aunt Sona, property with a FMV at the date of the gift of $36,000. If Clara is in the 37% tax bracket, what is the tax on the gain
A customer replies to a positive confirmation, In the audit of cash and accounts receivable, the main emphasis should be on which management assertion? Why?
Sales discounts amount to $25,900. From the foregoing information make an income statement for the year 2017 in single-step form
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