Business, 15.07.2019 17:20 tmrodriguez1
Lake power sports sells jet skis and other powered recreational equipment. customers pay one-third of the sales price of a jet ski when they initially purchase the ski, and then pay another one-third each year for the next two years. because lake has little information about the ability to collect these receivables, it uses the installment sales method for revenue recognition. in 2017, lake began operations and sold jet skis with a total price of $1,140,000 that cost lake $570,000. lake collected $380,000 in 2017, $380,000 in 2018, and $380,000 in 2019 associated with those sales. in 2018, lake sold jet skis with a total price of $2,070,000 that cost lake $1,242,000. lake collected $690,000 in 2018, $570,000 in 2019, and $570,000 in 2020 associated with those sales. in 2020, lake also repossessed $240,000 of jet skis that were sold in 2018. those jet skis had a fair value of $90,000 at the time they were repossessed. in its december 31, 2018, balance sheet, lake would report:
Answers: 1
Business, 22.06.2019 16:00
In microeconomics, the point at which supply and demand meet is called the blank price
Answers: 3
Business, 22.06.2019 18:00
1. what is the amount of interest earned after two years on a $100 deposit paying 4 percent simple interest annually? $8.00 $4.08 $8.16 $4.00 2. what is the amount of compound interest earned after three years on a $100 deposit paying 8 percent interest annually? $24.00 $8.00 $16.64 $25.97 3. a business just took out a loan for $100,000 at 10% interest. if the business pays the loan off in three months, how much did the business pay in interest? $2,500.00 $10.00 $250.00 $10,000.00 4. what is the annual percentage yield (apy) for a deposit paying 5 percent interest with monthly compounding? 5.00% 5.12% 79.59% 0.42%
Answers: 1
Business, 22.06.2019 20:00
If a government accumulates chronic budget deficits over time, what's one possible result? a. a collective action problem b. a debt crisis c. regulatory capture d. an unfunded liability
Answers: 2
Business, 22.06.2019 21:00
Roberto and reagan are both 25 percent owner/managers for bright light inc. roberto runs the retail store in sacramento, ca, and reagan runs the retail store in san francisco, ca. bright light inc. generated a $125,000 profit companywide made up of a $75,000 profit from the sacramento store, a ($25,000) loss from the san francisco store, and a combined $75,000 profit from the remaining stores. if bright light inc. is an s corporation, how much income will be allocated to roberto?
Answers: 2
Lake power sports sells jet skis and other powered recreational equipment. customers pay one-third o...
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