Reference no: EM132721269
Sales Price Date Goods Shipped
Date Goods Received $3,800 F.O.B destination
December 29 January 5
Shipping Terms $5,460 F.O.B shipping point
December 27 January 3
$4,250 F.O.B destination December 29 December 31
Stanley Company shipped the following merchandise during the last week of December 2019. All sales were on credit.
Problem 1. Compute the total amount of sales revenue recognized by Stanley in December 2019.
Problem 2. Conceptual Connection: If Stanley included all of the above shipments as revenue, what would be the effect on Stanley's assets, liabilities, stockholders' equity, revenues, expenses, and net income for 2019? Enter all amounts as positive numbers.
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