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1. On November 1, 2022, SAN JOSE receives an order from a customer for a computer as well as 12 months of technical support. The company delivers the computer to customer on same day (Dec 1). The customer paid the P 50,400 upfront. The computer sells for P 36,000- standalone price.
What is the total revenue to be recognized at Dec. 31, 2022?
2. Integrity Pizza charges initial franchise fee of P500,000 for the right to operate as a franchisee of Integrity Pizza. Of this amount, P100,000 is payable when the arrangement is signed and the balance is payable in five annual payments of P80,000 each. In return for the initial franchise fee, the franchisor will help locate the site, negotiate the lease or purchase of the site, supervise the construction activity, and provide the bookkeeping services. The credit rating of the franchisee indicates that money can be borrowed at 8%. (Round off present value factor to two decimal places.)
How much is the contract liability at the inception of the contract?
What are the issuer's cash proceeds from issuance? What total amount of bond interest expense will be recognized over life of these bonds?
What would you do, and how would you document your decision? Credit memos reduce A/R (accounts receivable) by crediting the account, and it writes off invoice.
A company has a 15 per cent required rate of return. It is currently selling on terms of net 10. Should the credit terms of the company be changed
Interest at 8% per annum is paid every Mar. 31 and Sept. 1. On Dec, 31, 2021, the bonds were selling at 96. What is the interest income for the year
Mission Electronics manufactures and sells basic DVD players for sale under various generic store brand names. The cost of one of their models follows: Materials $ 18.70 Labor 12.70 Variable overhead 5.70 Fixed overhead ($3,061,900 per year; 457,000 ..
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How to record "Accrued Interest Receivable" if you already have recognized " Unearned Interest Income"?
How would T-accounts for the events? (Per image attachment below), Numbers already under the accounts represent the prior balance in that account
The note is to be repaid on December 31, 2014. The prevailing rate of interest for a loan of this type is 10%. The present value of $120,000 at 10% for three years is $90,156. What amount of interest income should Ms. Price recognize in 2012?
Prepare an income statement, the statement of stockholders' equity and the classified balance sheet. Notes Payable (Due in 2years) $40,000
A company reported sales of $100,000; cost of goods sold of $60,000; selling, gerneral, and administrative expenses of $15,000; and income tax expense of $10,000. Compute the company's profit margin. what is the percent?
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