User Account

All Pages

What is the journal entry to record the additional revenue

Assignment Help Accounting Basics
Reference no: EM132529211

Question - Your Company, which has a fiscal year ending October 31, sells scented bars of soap for a 12% commission. As of October 31, total sales are $400,000. Your company has received $30,000, which you credited to Revenue.

Required -

a. How much additional revenue must you record for the fiscal year?

b. What is the journal entry to record the additional revenue?

Reference no: EM132529211

Questions Cloud

Compute cost behaviour for the complex electricity costs : Use the high-low method to estimate the cost behaviour for the complex's electricity costs, assuming that the variable costs vary in proportion
Fee-for-service and prepaid health plan models : Compare and contrast the fee-for-service and prepaid health plan models. What is the best type of health insurance (for the consumer and organization) and why
Compute the book value of the drill press : Compute depreciation for 2018 and 2019 and the book value of the drill press at December 31, 2018 and 2019, assuming the double-declining-balance method is used
Create the schedule of cost of goods sold for nani fashions : Create the schedule of cost of goods sold for Nani's Fashions and explain the information provided by the schedule of cost of goods sold.
What is the journal entry to record the additional revenue : Your Company, which has fiscal year ending October 31, sells scented bars of soap for a 12% commission. What is journal entry to record the additional revenue
Examine the use of project management software in practice : Critically evaluate these models in relation to their applicability to practice and Examine the use of project management software in practice
What adjusting entry must you record december : Your firm holds a $15,000, 8% note receivable issued on August 1, 20X0. What adjusting entry must you record December 31, 20X6
Create journal entry to record the incurrence of production : Create journal entries to record the incurrence of production costs, completion of job number A26 and the shipment of 900 cuddly koalas.
Identify a computer system you have recently had experience : For this assignment, you will identify a computer system you have recently had experience with and prepare an attach a PowerPoint presentation (8-10 slides).

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