Homework Answers
|
Activity |
Amount |
Explanation |
|
a. |
$ - |
It’s a cash received against issue of Shares hence not a revenue |
|
b. |
$ - |
Revenue will be recorded when games will be played. |
|
c. |
$ 55,29,000.00 |
Revenue for 1 game will be recorded as revenue. |
|
d. |
$ - |
Revenue will be recognized according to completion of contract. |
|
e. |
$ - |
Revenue will be recognized in next fiscal year |
|
f. |
$ 415.00 |
Service is provided in September so revenue will also be recorded in September. |
Add Answer to:
According to the revenue recognition principle, revenues should be recognized when they are earned, which happens...
Please answer and show detail 2. value: 1.00 points According to the revenue recognition principle, revenues...
Please answer and show
detail
2. value: 1.00 points According to the revenue recognition principle, revenues should be recognized when they are earned which happens when the company performs acts promised to the customer. For most businesses, this condition is met at the point of delivery of goods or services. The following transactions occurred in September: Required For each of the transactions, if revenue is to be recognized in September, indicate the amount. Activity Amount a. Gillespie Enterprises Inc. issued...
According to the revenue principle, revenues should be recognized when they are earned, which happens when...
According to the revenue principle, revenues should be recognized when they are earned, which happens when the company performs acts promised to the customer. For most businesses, this condition is met at the point of delivery of goods or services. points Required: The following transactions occurred in September 2017. For each of the transactions, if revenue is to be recognized in September, indicate the amount. Amount eBook Print Transaction Acustomer pays $28 cash for 28 song files from Apple's iTunes...
Check my wc According to the revenue recognition principle, revenues should be recognized when or as...
Check my wc According to the revenue recognition principle, revenues should be recognized when or as the company performs acts promised to the customer. For many businesses, this condition is met at the point of delivery of goods or services. The following transactions occurred in September: Required: For each of the transactions, If revenue is to be recognized in September, indicate the amount. Activity Amount A customer paid $35 cash for 35 song files from Musica's store. Answer from Musica's...
Revenues are normally recognized when the company transfers promised goods or services in the amount the...
Revenues are normally recognized when the company transfers promised goods or services in the amount the company expects to be entitled to receive. The amount recorded is the cash-equivalent sales price. Assume that the following transactions occurred in September: a. A popular ski magazine company receives a total of $11,645 today from subscribers. The subscriptions begin in the next fiscal year. Answer from the magazine company's standpoint. b. On September 1 of the current year, a bank lends $2,600 to...
Revenues are normally recognized when the company transfers promised goods or services in the amount the...
Revenues are normally recognized when the company transfers promised goods or services in the amount the company expects to be entitled to receive. The amount recorded is the cash-equivalent sales price. Assume that the following transactions occurred in September: Book Print a. A popular ski magazine company receives a total of $11645 today from subscribers. The subscriptions begin in the next fiscal b. On September 1 of the current year, a bank lends $2,700 to a company, the note principal...
1) The following transactions are July activities of Bill’s Extreme Bowling, Inc., which operates several bowling...
1) The following transactions are July activities of Bill’s Extreme Bowling, Inc., which operates several bowling centers. If revenue is to be recognized in July, indicate the amount. Activity Amount a. Bill’s collected $14,300 from customers for services related to games played in July. b. Bill’s billed a customer for $370 for a party held at the center on the last day of July. The bill is to be paid in August. c. The men’s and women’s bowling leagues gave...
Check my work Revenues are normally recognized when the company transfers promised goods or services in...
Check my work Revenues are normally recognized when the company transfers promised goods or services in the amount the company expects to receive. The amount recorded is the cash-equivalent sales price. The following transactions occurred in September: a. A popular ski magazine company receives a total of $11,545 today from subscribers. The subscriptions begin in the next fiscal year. Answer from the magazine company's standpoint. b. On September 1 of the current year, a bank lends $1,500 to a company,...
Revenues are normally recognized when the entity has transferred to the buyer the significant risks and...
Revenues are normally recognized when the entity has
transferred to the buyer the significant risks and rewards of
ownership of the goods, it retains neither continuing managerial
involvement to the degree usually associated with ownership nor
effective control over the goods, it is probable that future
economic benefits will flow to the company, and the benefits from
afnd costs associated with the transaction can be measured
reliably. The amount recorded is the cash-equivalent sales price.
Assume that the following events...
Revenues are normally recognized when a company transfers promised goods or services to customers in the...
Revenues are normally recognized when a company transfers promised goods or services to customers in the amount the company exsects to receive. Expense recognition is guided by an attempt to match the costs associated with the generation of those revenues to the same time period. The folowing transactions occurred in January a. McGraw-Hill Education uses $2,767 worth of electricity and natural gas in its headquarters building for which it has not yet been billed b. At the beginning of January,...
Revenues are normally recognized when a company transfers promised goods or services to customers in the...
Revenues are normally recognized when a company transfers promised goods or services to customers in the amount the company expects to be entitled to receive. Expense recognition is guided by an attempt to match the costs associated with the generation of those revenues to the same time period. Assume that the following transactions occurred in January: a. McGraw-Hill Education uses $2,767 worth of electricity and natural gas in its headquarters building for which it has not yet been billed. b....
Please answer and show
detail
2. value: 1.00 points According to the revenue recognition principle, revenues should be recognized when they are earned which happens when the company performs acts promised to the customer. For most businesses, this condition is met at the point of delivery of goods or services. The following transactions occurred in September: Required For each of the transactions, if revenue is to be recognized in September, indicate the amount. Activity Amount a. Gillespie Enterprises Inc. issued...
According to the revenue principle, revenues should be recognized when they are earned, which happens when the company performs acts promised to the customer. For most businesses, this condition is met at the point of delivery of goods or services. points Required: The following transactions occurred in September 2017. For each of the transactions, if revenue is to be recognized in September, indicate the amount. Amount eBook Print Transaction Acustomer pays $28 cash for 28 song files from Apple's iTunes...
Check my wc According to the revenue recognition principle, revenues should be recognized when or as the company performs acts promised to the customer. For many businesses, this condition is met at the point of delivery of goods or services. The following transactions occurred in September: Required: For each of the transactions, If revenue is to be recognized in September, indicate the amount. Activity Amount A customer paid $35 cash for 35 song files from Musica's store. Answer from Musica's...
Revenues are normally recognized when the company transfers promised goods or services in the amount the company expects to be entitled to receive. The amount recorded is the cash-equivalent sales price. Assume that the following transactions occurred in September: a. A popular ski magazine company receives a total of $11,645 today from subscribers. The subscriptions begin in the next fiscal year. Answer from the magazine company's standpoint. b. On September 1 of the current year, a bank lends $2,600 to...
Revenues are normally recognized when the company transfers promised goods or services in the amount the company expects to be entitled to receive. The amount recorded is the cash-equivalent sales price. Assume that the following transactions occurred in September: Book Print a. A popular ski magazine company receives a total of $11645 today from subscribers. The subscriptions begin in the next fiscal b. On September 1 of the current year, a bank lends $2,700 to a company, the note principal...
Check my work Revenues are normally recognized when the company transfers promised goods or services in the amount the company expects to receive. The amount recorded is the cash-equivalent sales price. The following transactions occurred in September: a. A popular ski magazine company receives a total of $11,545 today from subscribers. The subscriptions begin in the next fiscal year. Answer from the magazine company's standpoint. b. On September 1 of the current year, a bank lends $1,500 to a company,...
Revenues are normally recognized when the entity has
transferred to the buyer the significant risks and rewards of
ownership of the goods, it retains neither continuing managerial
involvement to the degree usually associated with ownership nor
effective control over the goods, it is probable that future
economic benefits will flow to the company, and the benefits from
afnd costs associated with the transaction can be measured
reliably. The amount recorded is the cash-equivalent sales price.
Assume that the following events...
Revenues are normally recognized when a company transfers promised goods or services to customers in the amount the company exsects to receive. Expense recognition is guided by an attempt to match the costs associated with the generation of those revenues to the same time period. The folowing transactions occurred in January a. McGraw-Hill Education uses $2,767 worth of electricity and natural gas in its headquarters building for which it has not yet been billed b. At the beginning of January,...
Revenues are normally recognized when a company transfers promised goods or services to customers in the amount the company expects to be entitled to receive. Expense recognition is guided by an attempt to match the costs associated with the generation of those revenues to the same time period. Assume that the following transactions occurred in January: a. McGraw-Hill Education uses $2,767 worth of electricity and natural gas in its headquarters building for which it has not yet been billed. b....
Most questions answered within 3 hours.
-
(a) Derive planar density expressions for BCC
(110) plane in terms of the atomic radius R....
asked 19 seconds from now -
3. Stock Valuation: You are the CEO of Under Armour, Inc. and
are thinking about how...
asked 1 minute ago -
Choose a brand. Critique the brand in terms of its brand
positioning, brand identity and brand...
asked 4 minutes ago -
A vertical curve has grades G1 = 2.8% (downgrade) and
G2 = 2.2 (upgrade) Assume design...
asked 4 minutes ago -
You begin preparation of the calibration curve to measure
absorbance vs concentration of FeSCN2+. To do...
asked 4 minutes ago -
I have this problem now and I am not sure what we are exactly
supposed to...
asked 5 minutes ago -
Use the following set of observed frequencies to test the
independence of the two variables. Variable...
asked 29 minutes ago -
Two kg of ice at -15 °C are placed in a 2 kg bath of water...
asked 29 minutes ago -
Describe the following with suitable
examples.
1- Security Policy Heterogeneity
2-Security Model Heterogeneity
3-Security Mechanism Heterogeneity...
asked 29 minutes ago -
Please Identify the Term "Determinism" in Psychology
asked 28 minutes ago -
The table below represents the number of republicans, democrats
and independent voting on a specific issue....
asked 33 minutes ago -
List and compare different forms of passive transport and active
transport.
asked 41 minutes ago