Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. sweet acacia ltd., an equipment manufacturer, sold

Sweet Acacia Ltd., an equipment manufacturer, sold and delivered a piece of equipment to a...

60.1K

Verified Solution

Question

Accounting

Sweet Acacia Ltd., an equipment manufacturer, sold and delivered a piece of equipment to a buyer for $92,000, with 50% payable in one year and the remaining 50% payable in two years from the date of sale. Sweet Acacia estimates that the interest rate for a similar financing arrangement would be 12%. Calculate the amount of revenue that Sweet Acacia should recognize on the date of sale. (Round discount factor to 5 decimals and final answer to 2 decimal places, e.g. 5,275.25.) Click here to view the factor table PRESENT VALUE OF 1.

Revenue to be recognized on the date of sale: $____________

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

Statistics
1.2K views

1. A random sample of 40 college student students shows that the score of a College...

Psychology
1.2K views

Briefly describe the dynamic of groupthink.

Biology
1.2K views

shows that companies can lose out by monitoring workers A Monitoring workers can help companies...

Biology
1.2K views

A florist is trying to create plants with purple flowers to sell for the winter....

Geometry
1.2K views

help video If mNT 68 and mLQJ 188 find m B B N L

Basic Math
1.2K views

Evaluate the integral, where E is the solid that lies within the cylinder x +...

Algebra
1.2K views

When a zero root has an even multiplicity the graph When a zero root has...

Accounting
1.2K views

Question 4 PERFORMANCE ASSESSMENT (10 MARKS) The Outdooricate Company has three separate divisions,...

Accounting
1.2K views

Problem 6-10 Equivalent Units, Cost per Equivalent Unit, Assigning...

Accounting
1.2K views

One way to manage an actual growth rate below the sustainable growth rate is to...

Accounting
1.2K views

The supply function for Gizmos is given by the equation P=0.66-O+11P=0.66-Q+11, and the demand function...

Accounting
1.2K views

pls help with income statement Help Son On...