How much revenue should Sansung recognize for the first 3 months of 2019?

Q: The following sales and purchases are expected over the Five-month period from November 2019 to…

A: Cash budget of the business shows expected cash receipts and cash payments for the future period of…

Q: On August, 2019, HBO consigned to GEO 10 laptops costing P15,000 each, paying freight charge of…

A: Consignment: When items are sent on consignment, the individual or firm who owns them pays for them…

Q: Bon Nebo Co. sold 12,500 annual subscriptions of Bjorn for $45 during December 20Y5. These new…

A: Current liabilities: Current liabilities are a company's short-term financial obligations that are…

Q: On August, 2019, HBO consigned to GEO 10 laptops costing $15,000 each, paying freight charge of…

A: Consignment Account: It is  made  to calculate  the profit earned or loss incurred by the consignor…

Q: Telephone Sellers Inc. sells prepaid telephone cards to customers. Telephone Sellers then pays the…

A: Given information is: Telephone Sellers Inc. sells prepaid telephone cards to customers. Telephone…

Q: Hard Company placed orders to DIFFICULT for the year 2021 that will result to the following amount…

A: First Quarter Details: Tax rate = 32% Sales = P13,000,000 Rebate = 10% * 1,100,000 = P110,000 Cost…

Q: On January 2, 2021, Capcom Co. sold merchandise to , Nintendo Inc. for P1,200,000. The cost of items…

A: The question is related to sale of goods on installment. In the given question the goods were sold…

Q: On December 28, 2018, Tristar Communications sold 10 units of its new satellite uplink system to…

A: Cash discount: The merchandisers offer a reduction in sales price on initial sales, to accelerate…

Q: ugust, 2019, HBO consigned to GEO 10 laptops costing P15,000 each, paying freight charge of P15,000.…

A: Net Income: Net income is the excess amount of revenue that arises after deducting all the expenses…

Q: Aria Perfume, Inc., sold 3,210 boxes of white musk soap during January of 2021 at the price of $90…

A: Number of performance Obligation In the given case, contract has not mention but it clear the…

Q: 1) In January 2020, Simon Corporation began selling a new line of products that carry a two-year…

A: Formula: Warranty expense for 2021 = Warranty Liability at the end of 2021 + Actual Warranty…

Q: EO 10 laptops costing P15,000 each, paying freight charge of P15,000. At the end of the month, GEO…

A: The right answer is c.71,000

Q: ABC Company sold 10 units of goods with a total list price of P30,000 on Jan. 1, 2019. Given that…

A: List price = P 30,000 Trade discount = 5% Cash discount = 10% Discount period = 10 Days Period…

Q: N Incorporated sells a single product for 50 per unit. All sales are on account, with 35% collected…

A: Accounts receivables is the amount that an entity has to receive from its customer at some future…

Q: Amber gears sells gears to HTC Car Repair during 2018.It offers rebates of 2% on purchases up to…

A: Normal purchase made in parts during the year= $300,000  Purchases on March 25, 2018= $74,000 of…

Q: Telephone Sellers Inc. sells prepaid telephone cards to customers. Telephone Sellers then pays the…

A: Here in January prepaid cards sold having value = $4000

Q: Hard Company placed orders to DIFFICULT for the year 2021 that will result to the following amount…

A: The second Quarter period is from April to June, Following information related to this period: Sales…

Q: Manual Company sells goods to Nolan Company during 2020. It offers Nolan the following rebates based…

A: Sales revenue = Total sales  - Rebate = $110,000 - $110,000*2% = $110,000 - $2,200 = $107,800

Q: BLITZKRIEG Co. purchases goods for P250,000 under a special credit period of 1 year. The seller…

A: Accounting is done on the historical cost concept, which states that transactions are recorded at a…

Q: e year end of GLCN Co is 30 November 2020. The company pays for its electricity by a standing order…

A: The profit and loss account records income and expense on accrual basis that is revenue and…

Q: Compute Premium Liability in 2019.

A: Premium Liability is the expected amount of redemptions yet to be for the year 2019 Premium…

Q: On January 2, 2021, Sinovac Co. sold merchandise to Astra, Inc. for P1,200,000. The cost of items to…

A: Present value of instalments and interest = annual instalments x no. of instalments  = P192,000 x 5…

Q: On October 1, 2019, Mara Company sold products on account to Baria Company for $6,300 including a 5%…

A: Sale tax is the tax levied on sale of goods. Sale tax paid on purchases can be booked as receivable…

Q: In accordance with IFRS 15, how much is the balance of Unearned Revenue for Premium Claims at the…

A: Unearned premium revenue is a liability account that is used by an insurer to record that portion of…

Q: On January 2, 2021, Apple Co. sold merchandise to Mango, Inc. for P1,500,000. The cost of items to…

A: Under the installment sales the method the sales, its revenue and the expenses related to this sale…

Q: Bon Nebo Co. sold 15,500 annual subscriptions of Bjorn for $62 during December 20Y5. These new…

A: Federal income taxes payable = Taxable income x Federal tax rate = $604000*35% = $211,400

Q: On December 28, 2021, Tristar Communications sold 10 units of its new satellite uplink system to…

A: 1/10, n/30 means, company will given the discount of 1% if the customer will paid the amount within…

Q: Splish Company sells goods to Blossom Company during 2020. It offers Blossom the following rebates…

A: Past experience shows that the 37,600 units are sold to Blossom in the third quarter, hence a rebate…

Q: Bon Nebo Co. sold 30,000 annual subscriptions of Bjorn for $105 during December 20Y5. These new…

A: Current liabilities seem to be a business's short financial commitments that must be paid throughout…

Q: On December 28, 2021, Tristar Communications sold 10 units of its new satellite uplink system to…

A: Given, Sales = 10 units @ $25,000 each Term = 1/10, n/30

Q: Omicron plc prepares financial statements to 31 December each year. On 1 January 2021, Omicron plc…

A: Here discuss about the details of the contract which are made by the company to sell the product…

Q: Shaw Company sells goods that cost $300,000 to Ricard Company for $410,000 on January 2, 2020. The…

A: a. Date Account Titles and Explanation Debit Credit January 2, 2020 Accounts…

Q: At December 31, 2020, Feel Company had 20,000 gift certificates outstanding, which had been sold to…

A: The cash basis of accounting says the firm has to record the transaction only when corresponding…

Q: Sage Company sells goods to Danone Inc. by accepting a note receivable on January 2, 2020. The goods…

A: Journal entry records every transaction by using the double-entry system. Sales as per net basis are…

Q: During 2020, Gray Company sold 500,000 boxes of cake mix under a new sales promotional program.…

A: Requirement 1: The calculation of premium expenses is as follows: The resultant table is as…

Q: Carla Vista Company sells goods to Pearl Company during 2020. It offers Pearl the following rebates…

A: A rebate is a type of purchase discount that is provided in the form of a reduction, return, or…

Q: ABC Company runs a department store and grants loyalty awards to its customers. For every P 100…

A: Points earned on ₹ 100,00,000 @ 5 points on every P100= [(100,00,000/100) x 5] = 5,00,000 points.…

Q: On July 3, 2020, Franky purchased on account specialty feeds worth P800,000 net of VAT. A wholesaler…

A: VAT means the value added tax which is levied on sale and purchase . Vat paid on purchases is booked…

Q: during november 2020 marvin's pre owned vechiles lts sells high end car for 120,000. the cost of the…

A: Net income is the difference between total revenues generated and total expense incurred during the…

Q: What amount of liability must be presented in the statement of financial position relating to…

A: Amount of liability must be presented in the statement of financial position relating to customer…

Q: Lee Cheol San Company pays commissions to its sales staff at the rate of 3% of net sales. Sales…

A: Expenses means the amount spent on running the business where as income means the amount earned…

Q: ABC Company sold 10 units of goods with a unit list price of P2,000 on January 1, 2020. Given that…

A: The period given to avail cash discount is 10 days.  Thus 10 days is expired on January 10th. Thus…

Q: At December 31, 2021, Suo’s Boutique had 2,000 gift certificates outstanding, which had been sold to…

A: The company should not record revenue when a gift card is purchased; instead, the purchase of the…

Q: On December 28, 2021, Tristar Communications sold 10 units of its new satellite uplink system to…

A: SOLUTION- A sales discount is a reduction in the price of a product or service that is offered by…

Q: At Dec. 31, 2019. H&M Co. had gift certificates outstanding, which had been sold to customers during…

A: As per IAs 115 Revenue Recognization standard the revenue pertaining to outstanding gifts/coupons is…

Q: MOA sells gift cards that are redeemable only at its stores.  The company's policy is to record the…

A: Outstanding obligations or liabilities are those dues or obligations which are related with current…

Q: Grouper Company sells goods to Danone Inc. by accepting a note receivable on January 2, 2020. The…

A: 1. Net Method - Under the net method of recording accounts receivables when a company makes sales,…

Q: On August, 2019, HBO consigned to GEO 10 laptops costing P15,000 each, paying freight charge of…

A: Consignment accounting refers to the accounting for goods sent to the consignee and other…

Q: Ward Company’s usual sales terms are net 60 days, FOB shipping point. Sales, net of returns and…

A: Net sales are calculated by deducting the returns or allowance from the total sales.

Q: 48. An Entity sold 10 units of goods with a unit list price of P2,000 on Jan. 1, 2021. The Entity…

A: Solution: List price = P2,000 Trade price = List price - Trade discount = P2,000 - (P2,000*5%) =…