On January' 1, 2013, Carat Company agreed to sell a diamond to a customer at a special
Question:
Required:
How much revenue, and how many in accounts receivable, should Carat recognize on January 1, 2013?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 73% (15 reviews)
The time value of money is significant in this instance because the receiva...View the full answer
Answered By
Benish Ahmad
I'm a professional software engineer. I'm lectutrer at GCUF and I have 3 years of teaching experience. I'm looking forward to getting mostly computer science work including:
Programming fundamentals
Object oriented programming
Data structures
object oriented design and analysis
Database system
Computer networks
Discrete mathematics
Web application
I am expert in different computer languages such as C++, java, JavaScript, Sql, CSS, Python and C#. I'm also have excellent knowledge of essay writing and research. I have worked in other Freelancing website such as Fiverr and Upwork. Now I have finally decided to join the SolutionInn platform to continue with my explicit work of helping dear clients and students to achieve their academic dreams. I deliver plagiarism free work and exceptional projects on time. I am capable of working under high pressure.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
On January 1, 2013, the Montgomery Company agreed to purchase a building by making six payments. The first three are to be $25,000 each, and will be paid on December 31, 2013, 2014, and 2015. The...
-
On January 1, 2013, the following information was drawn from the accounting records of Craven Company: cash of $800; land of $3,500; notes payable of $1,600; and common stock of $1,000. Required a....
-
Arnez Co. follows the practice of recording prepaid expenses and unearned revenues in balance sheet accounts. The companys annual accounting period ends on December 31, 2013. The following...
-
Adam Hoover bought 72 shares of General Oil Co. stock at a par value of $85 per share. The stock paid annual dividends of 7 1/2%. How much did Adam receive in dividends this year? Commissions 0. Mrs....
-
A job order cost sheet for Ryan Company is shown below. Instructions (a) On the basis of the foregoing data, answer the following questions. (1) What was the balance in Work in Process Inventory on...
-
What kind of external shock would benefit an economy?
-
The Argentine peso is pegged to the U.S. dollar on a one-to-one basis using a currency board. The Brazilian real floats and in 1999 it depreciated from about R1.2000/$ to above R2.000/$. a. Why do...
-
Document for Analysis: Poorly Written E-Mail Response Your Task. Analyze the following poorly written e-mail message, and list its specific weaknesses. If your instructor directs, revise it. To:...
-
x+5y=25 -10 -5 (x, y) = 10 y -5 -10 1 X+5 y=-5 X 5 10
-
2 nd note: Since tax planning requires a wide range of knowledge in tax, you would need to review material from multiple prior lectures in this course to complete this homework. Question 1 Addison, a...
-
GAAP does not accept the direct write-off method as an appropriate method for accounting for bad debts. Required: Identify and discuss two different reasons why GAAP rejects the direct write-off...
-
YM Company determines the allowance for doubtful accounts by aging its accounts receivable. At the end of 2012, the balance in the allowance account was $50,000. During 2013, YM wrote off $5,000 and...
-
Big Thumbs Company manufactures portable flash drives for computers. Big Thumbs incurs monthly depreciation costs of $15,000 on its plant equipment. Also, each drive requires materials and...
-
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. (For specific identification, units sold consist of 80 units from...
-
Describe the purpose of long-term care insurance and indicate whether and when John and Haley should consider purchasing this type of insurance.
-
Comparative and Constrained Optimization are two types of financial analysis used to determine whether a project is "selected" at the strategic level. The comparative method includes economic models....
-
A rocket is departing Earth towards Mars. The following function represents the rocket's vertical velocity for the first 3 hours: +3 v(t) = t e 13t 13' in km/h. (a) Approximate the distance travelled...
-
You plan to deposit $4,000 at the end of each year for the next eight years. How much will you accumulate in the account by the end of eight years if the interest rate on the account is 10 percent...
-
An advertising sign is suspended from a horizontal rod and is allowed to swing under wind forces. The rod is to be commercial bar stock, nominally 1.50 in in diameter. For the mating hinges on the...
-
Use the method of Example 4.29 to compute the indicated power of the matrix. 1 0 1
-
Golf for Life Inc. issues three series of $1,000,000 six-year bonds dated January 1, 2018, on the issue date. Interest is payable on June 30 and December 31 each year. Series A has a coupon rate of...
-
Discuss how non-current financial liabilities are initially and subsequently valued.
-
On the River Co. (OTRC) sells $1,000,000 of 10-year, 4% bonds at par plus accrued interest. The bonds are dated January 1, 2021, but due to market conditions are not issued until May 1, 2021....
-
On January 1, Davis issued $800,000 in 10 year, 7% bonds. The bonds were priced to yield 9%. Interest payments are made on June 30 and December 31. Make all necessary entries for 2022 through Dec....
-
Original Schedule Bracket (0) SS $ $ $ 132,900.00 Rate (1) 132,900.00 12.40% 0.00% New Schedule Bracket Rate (0) (1) S - $ 132,900.00 12.40% $ 132,900.00 $ 250,000.00 0.00% SS $ 250,000.00 $...
-
TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false. 1) Low-volume products often require more special handling than high-volume products.. 2) When overhead is properly...
Study smarter with the SolutionInn App