Question
In: Accounting
JCPenny entered into a contract with Emma. The contract begins on May 1 and ends on...
JCPenny entered into a contract with Emma. The contract begins on May 1 and ends on November 31, 2020. JCpenny will exchange 100 of their most popular watches at a discount as well as 100 glasses for brand-specific marketing. The regular wholesale price of the shirts is $65. JcPenny expects the cost to produce each mask will be $6. All goods that they sell have a profit margin of about 54%. Being able to carry these exclusive products is important to Emma so they have agreed to pay $7,000 in marketing over the life of the contract. JcPenny management recognizes $7,000 as revenue when the contract is signed on April 1st. Fifty shirt and mask sets will be delivered on May 1, twenty-five on June 1, and twenty-five on August 1.
1) Transaction price of Contract?
2) Estimate of Wholesale price of glasses and Discount company Emma recieved on Watches
3)Allocation of Transaction price
Solutions
ekkarill92 answered 1 year agoRelated Solutions
On May 1 a Kansas farmer entered into a short futures contract to sell 200,000 bushels...
On May 1 a Kansas farmer entered into a short futures contract
to sell 200,000 bushels of wheat for 525 cents per bushel by
entering into a futures contract that matures on October
3 (5 points each part)
On September 30th the farmer closed out his contract
by taking a long futures position at a price of 450 cents per
bushel and sells 200,000 bushels of wheat in the spot market for
450 cents per bushel. Calculate the effective price paid
by...
What is spermiogenesis? Begins with what and ends with what?
What is spermiogenesis? Begins with what and ends with what? What is spermatogenesis? How is it different from spermiogenesis? What is the main difference between spermatogenesis and oogenesis?
The following diagram shows a four step process that begins with Operation 1 and ends with...
The following diagram shows a four step process that begins with
Operation 1 and ends with Operation 4. The rates shown in each box
represent the effective capacity of that operation
a. Determine the capacity of this process.
b. Which action would yield the greatest increase in process
capacity: (1) Increase the capacity of Operation 1 by 15%; (2)
Increase the capacity of Operation 2 by 10%; and (3) Increase the
capacity of Operation 3 by 10%.
( This is...
On May 15th 20X0 Unity Pvt. Ltd. entered into a contract with Kronika LLC. to ship...
On May 15th 20X0 Unity Pvt. Ltd. entered into a contract with
Kronika LLC. to ship them a specialized machinery for 5,000 USD.
Unity shipped the machinery on 23rd June but by the end of its
financial year i.e. 30th June 20X0, Unity did not received any
amount due from Kronika.
However on 20th August 20X0 Unity Ltd. received an amount of 3,500
USD in its foreign currency bank account along with a confirmation
email from Kronika about the transfer....
A crest vertical curve begins with a 1.2% upgrade and ends with a 1.08% downgrade. The...
A crest vertical curve begins with a 1.2% upgrade and ends with
a 1.08% downgrade. The PVC is at station 125+00 with an elevation
of 711.10ft and the PVT is at station 131+30. The distance to the
highest point is.............ft from the PVC.
In the law of contract, once the contracting parties agree and the contract is entered into,...
In the law of contract, once the contracting parties agree and
the contract is entered into, nothing can spoil, impair or destroy
the contract.Discuss
In the law of contract, once the contracting parties agree and the contract is entered into,...
In the law of contract, once the contracting parties agree and
the contract is entered into, nothing can spoil, impair or destroy
the contract.Discuss
On January 1 2019 Areej entered into a contract with a customer to construct a stadium...
On January 1 2019 Areej entered into a contract with a customer
to construct a stadium for consideration of $ 200 million. The
contract was expected to take 2 years to complete. At 31 December
2019 Areej had incurred costs of $ 55 million, Costs to complete
are estimated at $ 50 million. In addition to these costs, Amir
purchased plant to be used on the contract at a cost of $ 30
million. This plant was purchased on 1...
Create a metabolic pathway that begins with palmitoyl coA in the mitochondrial matrix, and ends up...
Create a metabolic pathway that begins with palmitoyl coA in the
mitochondrial matrix, and ends up pyruvate
You have oxaloacetate, citrate shuttling, ATP, and
erythrose-4-phosphate if you need them
using any form of induction, that a binary string begins and ends with the same character...
using any form of induction, that a binary string begins and ends
with the same character iff contains an even number of occurences
of substrings from (01,10).
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- A neurologist needs to counsel a stroke victim and her husband about possible outcomes, treatment options,...
- Case Study: Personal Beliefs in the Workplace Don Shakow was a prominent professional who worked in...
- 1: Competency framework usage is the modern best practice in management. What is meant by competency...
- A 19.34 g mixture of sugar (C12H22O11) and table salt (NaCl) is dissolved in 231 g...
- Young and Company claims that its pressurized diving bell will, on average, maintain its integrity to...
- 1) Alternative compiled code sequence using instructions in classes A, B, C. What is the average...
- An asset is purchased on January 1 for $48,700. It is expected to have a useful...
ADVERTISEMENT