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Long recognizes revenue over time according to percentage of completion for financial reporting purposes.
In 2014, Micron's accountant omitted the annual adjustment for patent amortization expense of $120,000. The error was not discovered until December 2016.
Included in other income is $120 million in income from a discontinued operation. This consists of $90 million in operating income and a $30 million gain .
The company experienced a foreign currency translation adjustment loss of $200,000 and had unrealized gains on investments of $180,000.
What must a contract include for the contract to exist for purposes of revenue recognition?
Is a customer's right to return merchandise a performance obligation of the seller? How should sellers account for a right of return?
The extended warranty sells for the same amount regardless of whether it is purchased at the same time as the Tornado or at some other time.
Would it be wise to sell a seat to a passenger walking up to the gate at the last minute a ticket based on the variable cost? Why or why not?
Periodic billings to the customer for a long-term construction contract are recorded as billings on construction contract.
Sarjit sells the same software without technical support for $70,000 and a stand-alone six-month technical support contract for $30,000, so these products .
The correction of a material error discovered in a year subsequent to the year the error was made is considered a prior period adjustment.
On average, what is the total bushing-related cost that LeanAero incurs to operate this machine for 20,000 hours?
Determine the balance of the Service Contracts in process account.
Considering the costs involved to crash the project determine if the laurenster corporation should crash the project to 14 weeks to receive the bonus.
Explaining which method you believe best estimates cost functions for both Netflix, Inc., and Amazon.com, Inc.
A schedule to be resented to management showing for the mileages of 5000, 10 000 and 30 000 miles per annum.
The ending work-in-process inventory was 90% complete with respect to materials and 40% complete with respect to conversion costs.
What are some of the overhead costs at your company, or at a Middle Eastern company with which you are familiar?
Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable.
What was the adjusting entry recorded at the end of December for prepaid insurance?
You are provided with the following information for Najera Inc. for the month ended June 30, 2014. Najera uses the periodic method for inventory.
The predetermined overhead rate is $65 per direct labor hour. What is the unit cost of the motors produced in job 4329?
Record the construction of the building when completed on June 30, 2017 for a cost of $90,000, paid in cash.
Comment on the interest rate that results in each period. Do you think that this should vary from period to period? Why or why not?
Given the substantial difference between the depreciation amounts in 2016 and 2017, is the information conveyed to the reader of Sadler Corporation's 2017 .