User Account

All Pages

What amount should ramon report as royalty revenue

Assignment Help Accounting Basics
Reference no: EM133180115

Question - In 2021, Ramon Comics Corp. sold a comic strip to Final Fantasy, Inc. and will receive royalties of 20% of future revenues associated with the comic strip. At December 31, 2022, Ramon reported royalties receivable of P75,000 from Final Fantasy. During 2023, Ramon received royalty payments of P200,000. Final Fantasy reported revenues of P1,500,000 in 2023 from the comic strip. In its 2023 income statement, what amount should Ramon report as royalty revenue?

a. P300,000

b. P175,000

c. P200,000

d. P125,000

Reference no: EM133180115

Questions Cloud

What amount of grant income should be recognized : The tuition costs paid in 2014 amounted to P600,000. What amount of grant income should be recognized for 2014
Weighted moving averages and exponential smoothing methods : Explain how error measures can help to optimize moving averages, weighted moving averages, and exponential smoothing methods.
How much relating to this transaction palatulan recognize : Under PFRS 15, how much relating to this transaction should Palatulan recognize in profit or loss in respect of revenue and interest income
Examples of ethical and unethical employment practices : What are some real world examples of ethical and unethical employment practices dealing with compensation (wage or benefits) you have read about, seen in the ne
What amount should ramon report as royalty revenue : Final Fantasy reported revenues of P1,500,000 in 2023 from the comic strip. In its 2023 income statement, what amount should Ramon report as royalty revenue
Deficiencies in the workplace : There are various trends that impact an organization, for this paper use the following three: the aging workforce, diversity, and skills deficiencies in the wor
What mistakes did janet make in handling the problems : You have just been hired to work in the Human Resource department of a local marketing firm, Swift River Advertising (SRA). You have been hired as a specialist
Various trends that impact an organization : There are various trends that impact an organization, for this paper use the following three: the aging workforce, diversity, and skills deficiencies in the wor
Implementing motivational incentive systems : Please describe some of the common difficulties associated with individual and group level incentives. How might these issues be prevented?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd