How much revenue should shaw recognize, Accounting Basics

+44 141 628 6080
[email protected]

How much revenue should shaw recognize

Shaw Company sells goods that cost $300,000 to Ricard Company for $410,000 on January 2, 2012. The sales price includes an installation fee, which is valued at $40,000. The fair value of the goods is $370,000. The installation is expected to take 6 months.
Instructions
(a) Prepare the journal entry (if any) to record the sale on January 2, 2012.
(b) Shaw prepares an income statement for the first quarter of 2012, ending March 31, 2012. How much revenue should Shaw recognize related to its sale to Ricard?

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How much revenue should shaw recognize

Reference No:- TGS0677215

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Compute the material quantity and labor efficiency

During October, the company purchased 240,000 pounds of material at a total cost of $588,000. The total factory wages for October were $49,400.

Q : The basic format to be used in preparing the statement

Nathan Herrmann has completed the basic format to be used in preparing the statement of cash flows (indirect method) for CEO Consultants.

Q : How much would it cost to buy annuity to sell some of stock

Your aunt is about to retire, and she wants to sell some of her stock. The going rate on such annuities is 7.25%. How much would it cost her to buy such an annuity today?

Q : Accrued fees are earned

On the Basis of the following data (a) journalize the adjusting entries at June 30, the end of the current fiscal year, and (b) journalize the reversing entries on July 1, the first day of the following year.

Q : How much revenue should shaw recognize

Shaw Company sells goods that cost $300,000 to Ricard Company for $410,000 on January 2, 2012. The sales price includes an installation fee, which is valued at $40,000.

Q : Homer company expects credit sales

Homer Company expects credit sales for January to be $50,000. Cash sales are expected to be $30,000. The company expects credit and cash sales to increase 10% for the month of February.

Q : Advantages of budgeting enabled

One company's practice is to provide bonuses to salespeople who exceed their sales targets. Which of the following advantages of budgeting enabled the company to establish its recognition program?

Q : Information from the companys records and personnel

Supply the correct amount for each answer box on the schedule. (Use PVAD of $1.) (Round "PV Factor" to 5 decimal places. Do not round intermediate calculations.

Q : The annual interest payment

Wilson Oil Company issued bonds five years ago at $1000 per bond. These bonds had a 25-year life when issued and the annual interest payment was then 8 percent.

1926636

Questions
Asked

3,689

Active Tutors

1440243

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How much revenue should shaw recognize

Reference No:- TGS0677215

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Compute the material quantity and labor efficiency

Q : The basic format to be used in preparing the statement

Q : How much would it cost to buy annuity to sell some of stock

Q : Accrued fees are earned

Q : How much revenue should shaw recognize

Q : Homer company expects credit sales

Q : Advantages of budgeting enabled

Q : Information from the companys records and personnel

Q : The annual interest payment

What is the importance of de-prescribing

Locate evidence-based article on culture and healthcare

Discuss lines of treatment for conclude diagnosis

Problem scope for your community needs assessment plan

Discussion about continuous renal replacement therapy

Create video of yourself performing two different therapies

What you find most interesting about the skill of listening

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How much revenue should shaw recognize

Reference No:- TGS0677215

Recent Questions Asked Accounting Basics

Q : Compute the material quantity and labor efficiency

Q : The basic format to be used in preparing the statement

Q : How much would it cost to buy annuity to sell some of stock

Q : Accrued fees are earned

Q : How much revenue should shaw recognize

Q : Homer company expects credit sales

Q : Advantages of budgeting enabled

Q : Information from the companys records and personnel

Q : The annual interest payment

Asked Questions