Whispering Company sells goods that cost $301,000 to Ricard Company for $402,000 on January 2, 2020. The sales price includes an installation fee, which has a standalone selling price of $37,000. The standalone selling price of the goods is $365,000. The installation is considered a separate performance obligation and is expected to take 6 months to complete.
Whispering prepares an income statement for the first quarter of 2020, ending on March 31, 2020 (installation was completed on June 18, 2020). How much revenue should Whispering recognize related to its sale to Ricard
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Whispering Company sells goods that cost $301,000 to Ricard Company for $402,000 on January 2, 2020. The sales price includes an ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
You pay $23,100 to the Laramie Fund, which has a NAV of $21 per share at the beginning of the year. The fund deducted a front-end load of 5%. The securities in the fund increased in value by 10% during the year. The fund's expense ratio is 1.
Answers (1)
On December 1, Miser Corporation exchanged 6,000 shares of its $25 par value common stock held in treasury for a parcel of land to be held for a future plant site.
Answers (1)
Getty Company expects sales for the first three months of next year to be $200,000, $235,000, and $298,000, respectively. Getty expects 35 percent of its sales to be cash and the remainder to be credit sales.
Answers (1)
Speedy Company's weekly payroll of $250 is paid on Fridays (five-day work week). Assume that the last day of the month falls on Thursday. Which of the following is the required month-end adjusting entry? a.
Answers (1)
Two-year-old sasha is exuberant and curious. all breakable items have been removed from her reach and all floor-level kitchen cabinets have been locked with the exception of one that contains old pans and spoons for playing. this is an example of:
Answers (1)
New Questions in Business
Which statement best describes how governments respond to changes in the business cycle? Check all that apply governments make current see more available governments refuse to pass a budget governments change their policies governments reduce
Answers (2)
Corporate shareholders: A. are proportionately liable for the firm's debts. B. are protected from all losses. C. have the ability to change the corporation's bylaws. D.
Answers (1)
Cash $ 14,000 Accounts payable $ 42,000 Receivables 70,000 Other current liabilities 28,000 Inventories 210,000 Total CL $ 70,000 Total CA $294,000 Long-term debt 70,000 Net fixed assets 126,000 Common equity 280,000 Total assets $420,000 Total liab.
Answers (1)
An employment test for men is used by a police department to find successful candidates. A woman who was denied employment with the police department based on her test scores sues the police chief.
Answers (1)
What is a great marketing strategy
Answers (2)