Question: answer Current Attempt in Progress Pina Colada Mowers Ltd agreed to sell the City of Halifax four riding mowers and 20 push lawn mowers. The
Current Attempt in Progress Pina Colada Mowers Ltd agreed to sell the City of Halifax four riding mowers and 20 push lawn mowers. The contract price was $63,600. Pina Colada normally sells its riding mowers for $12,720 and its push lawn mowers for $848. The contract required the City of Halifax to pay Pina Colada once all of the merchandise has been delivered to the city's public works yard. Pina Colada's management does not expect any returns or any issues with payment. Pina Colada delivered all four of the riding mowers and 14 of the push mowers on April 26. The remaining six push mowers were delivered on May 5. Pina Colada received payment from the city on May 18. Pina Colada's cost for each riding mower is $8,798, while the push mowers cost the company $550 each (a) Determine the amount of revenue that Pina Colada would be able to recognize in April. Revenue Recognized Riding mowers Push lawnmowers Total
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
