Question
Which transactions have caused the increase of revenues? List these transactions below . example, if you think transaction a has caused the increases of revenues,
Which transactions have caused the increase of revenues? List these transactions below. example, if you think transaction a has caused the increases of revenues, then include a in your list Following transactions occurred in September 2020: | |
a. | A customer orders and receives 10 personal computers from Dell; the customer promises to pay $17,300 within three months. Answer from Dell's standpoint. |
b. | Fucillo Hyundai, Inc., sells a truck with a list, or sticker, price of $18,550 for $16,550 cash. |
c. | Bon-Ton Department Store orders 1,000 men's shirts from Arrow Shirt Company for $13 each for future delivery. The terms require payment in full within 30 days of delivery. Answer from Arrow's standpoint. |
d. | Arrow Shirt Company completes production of the shirts described in (c) and delivers the order. Answer from Arrow's standpoint. |
e. | Arrow receives payment from Bon-Ton for the order described in (c). Answer from Arrow's standpoint. |
f. | A customer purchases a ticket from American Airlines for $380 cash to travel the following January. Answer from American Airlines' standpoint. |
g. | General Motors issues $41 million in new common stock. |
h. | Penn State University receives $19,300,000 cash for 80,000 five-game season football tickets. |
i. | Penn State plays the first football game referred to in (h). |
j. | McPherson Construction Company signs a contract with a customer for the construction of a new $500,000 warehouse. At the signing, McPherson receives a check for $50,000 as a deposit on the future construction. Answer from McPherson's standpoint. |
k. | A popular ski magazine company receives a total of $1,560 today from subscribers. The subscriptions begin in the next fiscal year. Answer from the magazine company's standpoint. |
l. | Sears, a retail store, sells a $160 lamp to a customer who charges the sale on his store credit card. Answer from the standpoint of Sears. |
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