Business, 20.04.2020 20:56 mayalp

During 2014, a textbook written by Mercer Co. personnel was sold to Roark Publishing, Inc., for royalties of 10% on sales. Royalties are receivable semiannually on March 31, for sales in July through December of the prior year, and on September 30, for sales in January through June of the same year. • Royalty income of $162,000 was accrued at 12/31/14 for the period July-December 2014.

• Royalty income of $180,000 was received on 3/31/15, and $234,000 on 9/30/15.

• Mercer learned from Roark that sales subject to royalty were estimated at $3,240,000 for the last half of 2015.

In its income statement for 2015, Mercer should report royalty income at

A. $432,000.
B. $414,000.
C. $558,000.
D. $576,000.

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 21:40

Which of the following comes after a period of recession in the business cycle? a. stagflation b. a drought c. a boom d. recovery

Answers: 1

Answer

Business, 23.06.2019 04:20

Question 1 2 points is the concern of business for the long-range welfare of both the company and its relationships to the society within which it operates

Answers: 1

Answer

Business, 23.06.2019 13:30

During a meeting, tammy, a branch manager for usa bank, pointed to the corporate organization chart on the wall. tammy remarked that "these people provide advice, recommendations, and research for us, and they are indicated with a dotted line. laura (our ceo) and the vice presidents of our organization are up here, indicated on the organization chart by a solid line vertical line." are indicated on the organization chart by a solid line and are indicated by a dotted line. a. line managers; temporary personnel b. line managers; personnel in training c. staff personnel; vital personnel d. line managers; part-time personnel e. line managers; staff personnel

Answers: 2

Answer

Business, 23.06.2019 15:10

Bramble corporation is a small wholesaler of gourmet food products. data regarding the store's operations follow:

Answers: 2

Answer

You know the right answer?

During 2014, a textbook written by Mercer Co. personnel was sold to Roark Publishing, Inc., for roya...

Questions