Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please show step by step solution. thank you! pre

Please show step by step solution. Thank you! Presented below are three revenue recognition...

70.2K

Verified Solution

Question

Accounting

imagePlease show step by step solution. Thank you!

Presented below are three revenue recognition situations. (a) Groupo sells goods to MTN for $905.000. payment due at delivery. (b) Groupo sells goods on account to Grifols for $790,000, payment due in 30 days. la Groupo sells goods to Magnus for $537.000. payment due in two installments, the first installment payable in 18 months and the second payment due 6 months later. The present value of the future payments is $503.800. Indicate the transaction price for each of these situations and when revenue will be recognized. Transaction Price Revenue will be recognized

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

On 1 July 2021 Fairval Ltd (the lessee) contracts a leaseequipment for five years...

General Management
1.2K views

Read the extract carefully and apply the problem-solution pattern of analysis to it. Process Reengineering at IBM...

Basic Math
1.2K views

3 Consider the following assumptions for implementing heap memory a Explicit free list b 4...

Basic Math
1.2K views

Consider the function f x x 6x x 36x Determine the number of discontinuities of...

Basic Math
1.2K views

The parabola y = x is compressed vertically by a factor of 0.3, translated up...

Calculus
1.2K views

Find the derivative of the function y In 8x x O8x 2 8x2 x O...

Algebra
1.2K views

K Determine the largest open interval s of the domain over which the function shown...

Accounting
1.2K views

1) Introduce the concept of work-life balance (WLB) . What is work-life balance? answer...

Accounting
1.2K views

Under the allowance method, when a year-end adjustment is uncollectible accounts Ototal assets decrease. Onet...

Accounting
1.2K views

Knapp Industries began business on January 1, 2018 by issuing all of its 1,800,000 authorized...

Accounting
1.2K views

2) Do you think all of the extra time and effort required by the double-entry...

Accounting
1.2K views

Joyner Pickled Pepper Company produces pickled jalapeno pepper relish. Selected results from the most current...