On November 1, 2018, Green Valley Farm entered into a contract to buy a $150,000 harvester...
On November 1, 2018, Green Valley Farm entered into a contract to buy a $150,000 harvester from John Deere. The contract required Green Valley Farm to pay $150,000 in advance on November 1, 2018. The harvester (cost of $110,000) was delivered on November 30, 2018. The journal entry to record the delivery of the equipment includes a
Homework Answers
| Journal entries | |||
| Date | Particulars | Debit | Credit |
| Unearned revenue | $150,000 | ||
| Sales revenue | $150,000 | ||
| (To record sales revenue) | |||
| Cost of goods sold | $110,000 | ||
| Inventory | $110,000 | ||
| (To record Cost of goods sold) |
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On November 1, 2018, Green Valley Farm entered into a contract
to buy a $150,000 harvester...
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Current Attempt in Progress On May 1, 2020, Indigo Inc. entered into a contract to deliver...
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help On January 1, Revis Consulting entered into a contract to complete a cost reduction program...
help
On January 1, Revis Consulting entered into a contract to complete a cost reduction program for Green Financial over a six-month period. Revis will receive $44,000 from Green at the end of each month. If total cost savings reach a specific target, Revis will receive an additional $22,000 from Green at the end of the contract, but if total cost savings fall short, Revis will refund $22,000 to Green Revis estimates an 80% chance that cost savings will reach...
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On January 1, Revis Consulting entered into a contract to complete a cost reduction program for Green Financial over a six-month period. Revis will receive $68,000 from Green at the end of each month. If total cost savings reach a specific target, Revis will receive an additional $34,000 from Green at the end of the contract, but if total cost savings fall short, Revis will refund $34,000 to Green. Revis estimates an 80% chance that cost savings will reach the...
On January 1, Revis Consulting entered into a contract to complete a cost reduction program for Green Financial over a six-month period. Revis will receive $36.800 from Green at the end of each month. If total cost savings reach a specific target, Revis will receive an additional $18.400 from Green at the end of the contract, but if total cost savings fall short, Revis will refund $18.400 to Green. Revis estimates an 80% chance that cost savings will reach the...
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help
On January 1, Revis Consulting entered into a contract to complete a cost reduction program for Green Financial over a six-month period. Revis will receive $44,000 from Green at the end of each month. If total cost savings reach a specific target, Revis will receive an additional $22,000 from Green at the end of the contract, but if total cost savings fall short, Revis will refund $22,000 to Green Revis estimates an 80% chance that cost savings will reach...
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