What was the revenue in june from the sales

Assignment Help Financial Accounting
Reference no: EM132914133

A bed manufacturer took orders for 22 beds in May, each worth $2500.

Of these 22 beds:

  • 11 were paid for when the order was placed, and of these 11 beds, 3 were delivered in May, 4 were delivered in June and 4 were delivered in July
  • 11 beds were therefore ordered in May but were not paid for when the order was placed

Of these 11 beds:

  • 3 were delivered in May, but the customers were given credit and did not have to pay for the beds until the end of June
  • 2 were delivered in June, and paid for on delivery
  • 2 were delivered in June, but the customers were given credit and did not have to pay for the beds until the end of July
  • 4 were delivered in July, and paid for on delivery.

Problem 1: What was the revenue in June from these sales?

Reference no: EM132914133

Questions Cloud

Create partnerships within school community : Understanding the expectations of a co-teacher will help special educators meet the students' needs and create partnerships within the school community.
Abilities are teeming with myths and misconceptions : Perceptions about children with varying abilities are teeming with myths and misconceptions.
Create partnerships within school community : Understanding the expectations of a co-teacher will help special educators meet the students' needs and create partnerships within the school community.
What is the journal entry to adjust carry-forward balances : Sunshine Ltd, What is the journal entry to adjust the carry-forward balances of the deferred tax asset and deferred tax liability?
What was the revenue in june from the sales : What was the revenue in June from these sales? 3 were delivered in May, but the customers were given credit and did not have to pay for the beds until the end.
How does the play reflect or challenge your own values : How does the play reflect or challenge your own values? Explain why you think they deserve this status or if they do at all.
Calculate the cash flow from operating : Calculate the cash flow from operating, investing and financing activities, and the net change in cash for Bronze Corporation based on data.
Peculate about the role it will play in future : Discuss the role that public art has played in past and present society and speculate about the role it will play in the future.
What are some aspects of globalization and capitalism : What are some aspects of globalization and capitalism that have contribute to the economic abuse of children developing countries

Reviews

Write a Review

Financial Accounting Questions & Answers

  Compute the company revenue and spending variances

Auto Lavage is a Canadian company that owns and operates a large automatic carwash facility near Quebec. The following table provides data concerning the companys costs.

  Prepare the journal entries that connection corp would have

Prepare the journal entries that Connection Corp. would have prepared for its 2019 and 2020 year ends, assuming that 2019 was its first year of operations.

  Metlock make to record the sale of the equipment

What entry would Metlock make to record the sale of the equipment for $37,000 cash?

  Increase working capital and increase the current ratio

If a company converts a short-term note payable into a long-term note payable, this transaction would a. Decrease working capital and increase the current ratio   b. Decrease working capital and decrease the current ratio c. Decrease the current rati..

  How executives of corporate america have embraced

Analyze how executives of corporate America have embraced the new regulations and requirements of the Sox Act while maintaining their purpose to produce a profit for investors and staying in compliance of the new rules in the industry.

  Provide journal entry to record transactions for hogarth ltd

Provide journal entries to record all transactions. Recorded the bimonthly payroll. The amounts were identical to the prior bimonthly payroll.

  Prepare an amortization schedule using excel

ACC3300- On December 31, 2016, Carson Company rendered services to Lincoln Corporation at an agreed price of $125,939. Prepare amortization schedule using excel. Use effective-interest method for amortization purposes.

  Prepare the necessary journal entry on december

Prepare the journal entry to record the bond issuance on February 1, 2018. Prepare the necessary journal entry on December 31, 2018.

  What profit or loss would security brokers incur

Determine and What profit or loss would Security Brokers incur if the issue were sold to the public at the following average price?

  Calculate the amount of net income

ABC Company began operations in June, 2017 by selling common stock to owners in exchange for $70,000 cash. During 2017, ABC Company entered into the following transactions: On June 23, ABC Company purchased inventory for $40,000 cash. Calculate the a..

  What is the total asset cost that hardware should record

Hardware incurred labour costs of $12,000 and general overhead of $9,000. What is the total asset cost that Hardware should record for the new machinery?

  Explain how much inventory was requisitioned for use on jobs

At the beginning of 2011, there was $2,000 of materials on hand. During the year, the company purchased $305,000 of materials; however, it paid for only $292,500. Explain how much inventory was requisitioned for use on jobs during 2011?

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!

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