User Account

All Pages

What is the amount of revenue reported for year one

Assignment Help Accounting Basics
Reference no: EM132478667

Question - Ace Company is a local fitness center in Richmond. To boost sales, it sells a package to its customers which are made up of two pieces of paper. Paper One is the right to a massage with a retail value of $100. Paper Two is a coupon that can be presented for a $10 cash rebate. One hundred packages are sold for $100 each in Year One. All 100 massages are taken in Year One. The company expects 70 percent of the coupons to be redeemed but not until Year Two. What is the amount of revenue reported for Year One?

Reference no: EM132478667

Questions Cloud

What is the most appropriate method for computing wages : Hollywood also employs a technical team that travels to customer sites for special projects. What is the most appropriate method for computing wages
Describe the scope of the project and control measures : Describe the scope of the project and control measures. Describe the goals and objectives of the project. Give a detailed, realistically estimated cost analysis
Draw max demand curve for gin g : Draw Max's demand curve for gin g when he has income 12 and the price of tonicpt is 2 : g=g(pg | pt=2,M=12)
Extending the copyright protection beyond : Explain how extending the copyright protection beyond the author life creates the incentives to produce creative work.
What is the amount of revenue reported for year one : The company expects 70 percent of the coupons to be redeemed but not until Year Two. What is the amount of revenue reported for Year One
Make statement of cash flow for anderson corporation : Create and Prepare, in good form (showing essential information), a statement of cash flows for Anderson Corporation for the year ended December 31, 20X2
Derive max demand function : Use Max's consumer choice problem to derive Max's demand function for gin as a function of the prices and income pg, pt and M:g=g(pg ,pt ,M).
Factor market and sellers in the goods market : In the closed-system circular flow diagram which players are buyers in the factor market and sellers in the goods market?
What amount should the company report : After two payments have been made, what amount should the company report as the note payable balance in its December 31 balance sheet

Reviews

Write a Review

Accounting Basics Questions & Answers

  Complete the table showing plum current ratio

Complete the table attached showing Plum's (1) current ratio, (2) acid-test ratio, and (3) working capital after each transaction

  In the month of june davis computers paid three months rent

1. paid the rent for the next six months.a an asset would be debited and an expense credited.b an asset would be

  What amount of accounts payable did starbucks have at the

what amount of accounts payable did starbucks have at the end of the previous annual reporting period?what are the

  Unexpected earnings and returns

Risk affects the cost of equity capital and thus the value of the perpetuity. Collins and Kothari (1989) provide a discussion of additional determinants of the relation between unexpected earnings and returns. How Do Earnings Numbers Relate to Sto..

  Ward company purchased an electric press on june 30 2015 by

ward company purchased an electric press on june 30 2015 by trading in its old gas model and paying the balance in

  Which of the following best describes the count function

ndicates a cell's specific location and the reference does not change when you copy the formula.

  Complete the report showing the activity variances for march

Complete the report showing the activity variances for March. Complete the report showing the spending variances for March.

  In addition to common-size financial statements

In addition to common-size financial statements, common-base-year financial statements are often used. Common-base-year financial statements are constructed by dividing the current year account value by the base year account value.

  What amount would the flexible budget estimate

At an activity level of 180,000 direct labour hours, what amount would the flexible budget estimate for total budgeted fixed costs

  Goals for sales and return on assets

The president of Blue Skies Corp. and his vice presidents are reviewing the operating results of the year just completed. Sales increased by 15% from the previous year to $60,000,000. Average total assets for the year were $40,000,000. Net income,..

  What are internal controls why do companies need them what

what are internal controls? why do companies need them? what are some examples of internal controls? who is responsible

  Why have laws pertaining to business

Why have laws pertaining to business?about various laws that were enacted in response to business related issues.tudying business law

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