On July 10, 2017, Amodt Music sold CDs to retailers on account and recorded sales revenue of
Question:
(a) The sale on July 10, 2017,
(b) $78,000 of returns on October 11, 2017, and on October 31, 2017. Assume that Amodt prepares financial statement on October 31, 2017.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 55% (9 reviews)
July 10 2017 Accounts Receivable 700000 Sales Revenue 700000 Cost of Goods Sold 560000 Inventory 560...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 978-1118742976
16th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Question Posted:
Students also viewed these Cost Accounting questions
-
On July 10, 2022, Amodt Music sold CDs to retailers on account and recorded sales revenue of $700,000 (cost $560,000). Amodt grants the right to return CDs that do not sell in 3 months following...
-
Aamodt Music sold CDs to retailers and recorded sales revenue of $700,000. During 2010, retailers returned CDs to Aamodt and were granted credit of $78,000. Past experience indicates that the normal...
-
Scooby Doo Music sold CDs to retailers and recorded sales revenue of $800,000. During 2008, retailers returned CDs to Scooby Doo and were granted credit of $78,000. Past experience indicates that the...
-
Controlling Program Flow w/i an ATM Using selection statements & loops to complete the following: Validate the user's PIN -- only allow them to attempt three (3) times before ending the program If...
-
1. What types of control described in the chapter feedforward, concurrent, or feedbackare illustrated in this case? Would you characterize Lincolns control approach as primarily bureaucratic or...
-
A crate of 45.0-kg tools rests on a horizontal floor. You exert a gradually increasing horizontal push on it and observe that the crate just begins to move when your force exceeds 313 N. After that...
-
Identify the major business function and activities common to the conversion cycle.
-
The following information was taken from the records of Midler Cosmetics, Inc., at December 31, 2014: Requirements 1. Using the End- of- Chapter Summary Problem (pages 637638) as an example, prepare...
-
Fanning Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory: Required purchases (on account)...
-
Summerville Company, which uses the high-low method to analyze cost behavior, has determined that machine hours best predict the company's total utilities cost. The company's cost and machine hour...
-
On March 1, 2017, Parnevik Company sold goods to Goosen Inc. for $660,000 in exchange for a 5-year, zero-interest-bearing note in the face amount of $1,062,937 (an inputed rate of 10%). The goods...
-
Kristin Company sells 300 units of its products for $20 each to Logan Inc. for cash. Kristin allows Logan to return any unused product within 30 days and receive a full refund. The cost of each...
-
Table 9.1 lists the thermodynamic properties of saturated liquid and vapor tetrafluo-roethane. Making use of the vapor pressures as a function of temperature and of the saturated-liquid and...
-
The read-write head for a hand-held music player has a surface area of 0.04 mm. The head is held 0.04 m above the disk, which is rotating at a constant rate of 1800 rpm. Determine the torque T that...
-
Use the SkyCiv Software to neatly draw the shear and bending moment diagrams for the 2 problems assigned to you. On each diagram, identify the minimum and maximum values. Note: on Problem 4, treat...
-
The Winterland DPW can purchase road salt from three different mines. Salt from any of these mines must be ordered in 100 ton quantities. Nearby DPW directors that Sarah spoke with stated lead times...
-
On January 1, 2019, Kelly Corporation acquired bonds with a face value of $400,000 for $387,580.27, a price that yields a 12% effective annual interest rate. The bonds carry a 11% stated rate of...
-
Question 2 [20 points] Answer both of the following questions. Note: Write ONLY the function definition (name, parameters, return type, body) and not the main program that calls the function. a. [10...
-
Donna donates stock in Chipper Corporation to the American Red Cross on September 10, 2021. She purchased the stock for $18,100 on December 28, 2020, and it had a fair market value of $27,000 when...
-
Tiger, Inc. signed a lease for equipment on July 1, 2007.The lease is for 10 years (the useful life of the asset).The first of 10 equal annual payments of $500,000 was made on July 1, 2007.The...
-
Explain the difference between artistic-related intangible assets and contract-related intangible assets .
-
Braxton Inc. is considering the write-off of a limited life intangible because of its lack of profitability. Explain to the management of Braxton how to determine whether a write-off is permitted.
-
Explain how losses on impaired intangible assets should be reported in income.
-
Image transcription text Introduction: The Smart Parking Management System (SPMS) project aimed to develop an efficient, automated solution for managing parking spaces in urban areas using Arduino...
-
A. Can we use human capital theory to explain "Age-Discrimination"? If so, how? B. Why do some firms prefer to hire younger workers, especially for entry level positions? C. Why do some firms...
-
Image transcription text Question 6 Not yet answered Marked out of 1.00 '1" Flag question During a mountain?biking tripr Bill and Barry are discussing the merits of having the springs and shocks used...
Study smarter with the SolutionInn App