Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Interest revenue:
At the end of 2012, a manufacturer sells machinery to a customer for $90,000. $30,000 is paid immediately, and the customer signs a promissory note for the remainder. The note specifies that another $30,000 is to be paid at the end of 2013, and the final $30,000 is to be paid at the end of 2014.
A rate of 6% per year would normally be charged for this type of financing. However, the manufacturer provides free financing; no interest is charged.
a. What amount should be recorded for the note receivable when this sale is made?
b. How much sales revenue should be recognized in 2012?
c. How much interest revenue should the manufacturer recognize in 2013?
d. How much of the 2013 payment will be applied towards reducing the principal amount of the note receivable?
e. How much interest revenue should the manufacturer recognize in 2014?
what are the five modern accounting tehniques
Answer to Question Six Summarised consolidated statement of comprehensive income for the A group for the year ended 30 September 2010 All workings
Experienced Auditor - An AUDITOR who has a reasonable understanding of audit activities and has studied company's industry as well as accounting and auditing issues relevant to the
Robin Corporation accepted credit cards for $34,200 of services performed in October 2011.The credit card company charged a 3% service fee and paid Robin as soon as it received the
Present Value of a Bond 1. Assume that you wish to purchase a 20 year bond that has a maturity value of $1,000 and makes semiannual interest payments of $40. If you require a
Questikon: For Period Wilson Ltd has produced the following budget figures for Product X: For the period, the budgeted fixed overhead is Rs100,000 and the budgeted sales ar
What are some critics by individuals and professional bodies in this joint project?
You have observed the following returns over time: Year Stock X Stock Y Market 2006 13% 13%
Question 1 a. Contractual liability may be discharged in certain circumstances. Discuss. b. "An aggrieved party in a breach of contract is entitled to claim for damages"
the salaries paid in 2004 is rs. 500000 salaries outstanding is rs.20000 salaries paid in advance for 2004 is rs 30000 what is the actual salary expenditure for 2004?
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd