User Account

All Pages

What total amount of revenue should Clark Inc recognize

Assignment Help Accounting Basics
Reference no: EM132795745

Question - On December 31, 2010, Clark Inc. sold construction equipment to Build Company for P3,600,000. The equipment had a cost of P2,400,000. Build Company paid P600,000 cash on December 31, 2010 and signed a P3,000,000 interest bearing note at 10 percent payable in five annual installments of P600,000. Clark Inc. appropriately accounted for the sale under the installment method. On December 31, 2011, Build Company paid P900,000 including interest of P300,000. For the year ended December 31, 2011, what total amount of revenue (including interest) should Clark Inc. recognize from the construction equipment sale and financing?

Reference no: EM132795745

Questions Cloud

What is the marginal utility of a game download : If the marginal utility of movie downloads at the optimal mix of consumption is 30 utils, what is the marginal utility of a game download?
Compute ainsworth net loss per share for the year ended dec : Prepare a EPS presentation that would be appropriate to appear on Ainsworth's 2018 and 2017 comparative income statements.
Write down jin budget equation : 1. Jin purchases only two commodities. Her preferences are characterized by the utility function U(x1, x2) = x 3/5 1 x 2/5 2 Suppose that p1 = $15, p2 = $10, an
Review problem based on exhibition of world art : Imagine you are a curator at your local city's Museum of Art. You have been asked to organize a small exhibition of objects of art from the cultures of China.
What total amount of revenue should Clark Inc recognize : For the year ended December 31, 2011, what total amount of revenue (including interest) should Clark Inc. recognize
What is the opportunity cost in terms : What is the opportunity cost in terms of other programs the U.S. could have spent its resources on? Be sure to identify those programs
Find what present value of a perpetual stream of cash flows : Find What is the present value of a perpetual stream of cash flows that pays ?$6,500 at the end of year one and annual cash flow grow at a rate of 3?% per year?
What is the net cash provided by operating activities : MYWorld Corporation is preparing its statement of cash flows and has provided this information: What is the net cash provided by operating activities
What is the other term for stated value : What is the other term for stated value and par value method?

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