Correct answer is option A. 110,000 .
If ABC meets the four condition to claim that it has transferred control to the buyer it can book the revenue with in 2019. These 4 conditions are -
1) There should be substantive reason for Billed and hold agreement.
2) Product should be separately identified as customer property
3) Goods should be in finished form and should be ready to deliver;
4) ABC can't use the product or transfer this to other client.
ABC Company is holding goods with a selling price of $110,000 which cost them $70,000. On...
MULTIPLE-CHOICE questions E1-1.ABC Engineering use cost method to cart engineering use cost method to calculate the stage of completion of its construction act. Total estimated contract costs of their contract are $100 million. In the first year of their contract, ABC Engineering has incurred the following costs: Cost of purchase of raw materials worth $10 million ($5 million of which are unused by the year end) 2. Payment of salaries and wages of $5 million ($1 million of accrued salaries...
summarizr the followung info and write them in your own words and break them into different key points. 6.5 Metering Chamber: 6.5.1 The minimum size of the metering box is governed by the metering area required to obtain a representative test area for the specimen (see 7.2) and for maintenance of reasonable test accuracy. For example, for specimens incorporating air spaces or stud spaces, the metering area shall span an integral number of spaces (see 5.5). The depth of...
summatize the following info and break them into differeng key points. write them in yojr own words
apartus
6.1 Introduction—The design of a successful hot box appa- ratus is influenced by many factors. Before beginning the design of an apparatus meeting this standard, the designer shall review the discussion on the limitations and accuracy, Section 13, discussions of the energy flows in a hot box, Annex A2, the metering box wall loss flow, Annex A3, and flanking loss, Annex...
What is the answer to these tables? here is all the information that had been given to me and my answers to the question that I think needs to be answered to complete the two tablesYou have been hired as a Financial Consultant by Heavy Equipment and Machinery Inc. (HEMI). HEMI is a private corporation that has finished its first year of operations. HEMI's owners plan to list the business on the Toronto Stock Exchange (TSE) in the next 5 years; accordingly,...
1) 1) Goods in transit are automatically included in inventory regardless of whether title has passed to the buyer. A) True B) False 2) 2) An advantage of FIFO is that it assigns the most recent costs to cost of goods sold, and does a better job of matching current costs with revenues on the income statement. A) True B) False 3) 3) Errors in the period-end inventory balance only affect the current period's records and financial statements. A) True...
And there was a buy-sell arrangement which laid out the
conditions under which either shareholder could buy out the other.
Paul knew that this offer would strengthen his financial
picture…but did he really want a partner?It was going to be a long
night.
read the case study above and answer this question
what would you do if you were Paul with regards to financing,
and why?
ntroductloh Paul McTaggart sat at his desk. Behind him, the computer screen flickered with...
SYNOPSIS The product manager for coffee development at Kraft Canada must decide whether to introduce the company's new line of single-serve coffee pods or to await results from the product's launch in the United States. Key strategic decisions include choosing the target market to focus on and determining the value proposition to emphasize. Important questions are also raised in regard to how the new product should be branded, the flavors to offer, whether Kraft should use traditional distribution channels or...
CASE 20 Enron: Not Accounting for the Future* INTRODUCTION Once upon a time, there was a gleaming office tower in Houston, Texas. In front of that gleaming tower was a giant "E" slowly revolving, flashing in the hot Texas sun. But in 2001, the Enron Corporation, which once ranked among the top Fortune 500 companies, would collapse under a mountain of debt that had been concealed through a complex scheme of off-balance-sheet partnerships. Forced to declare bankruptcy, the energy firm...