Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Q1) Many companies sell products permitting their customers right to return merchandise if they are not satisfied. Because return of merchandise can retroactively negate benefits of having made a sale, seller should meet certain criteria before revenue is recognized in situations when right of return exists. SFAS No.48,Revenue recognition when right of return exists, lists criteria, the most criteria of which is that seller should be able to make reliable estimates of future returns.

Why do two revenue recognition policies differ?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M920831

Have any Question? 


Related Questions in Accounting Basics

Question -on november 1 2017 the account balances of hamm

Question - On November 1, 2017, the account balances of Hamm Equipment Repair were as follows. No. Debit No. Credit 101 Cash $2,400 154 Accumulated Depreciation-Equipment $2,000 112 Accounts Receivable 4,200 Account Paya ...

Nbsptask 1 - planning for profit and cost controlobjective

TASK 1 - Planning for profit and cost control Objective - To enable the learner to prepare the budgeted profit statement and undertake cost-volume-profit analysis for decision making Anhad Sdn. Bhd. manufactures car alar ...

Big alrsquos pizza emporium a subsidiary of big alrsquos

Big Al’s Pizza Emporium, a subsidiary of Big Al’s Pizza, Inc., has decided to sell frozen pizzas in its restaurants. Restaurant customers will take these pizzas home and cook them. The restaurants will sell frozen meat p ...

Contemporary issues in accounting-topic - critical

Contemporary issues in accounting- Topic - Critical Accounting Theory Objective- Makes a clear distinction between different theories of accounting Critically evaluate contemporary external company reporting practices Le ...

Question - present arguments in support of a mnc favoring a

Question - Present arguments in support of a MNC favoring a debt-intensive capital structure. Present arguments in support of a MNC favoring an equity-intensive capital structure.

Assignment ethical issue reclassification of

Assignment: Ethical Issue: Reclassification of Receivables Respond to the following ethical issue concerning the reclassification of receivables in your initial post: Moss Exports is having a bad year. Net income is only ...

Practical assessment- case study assignment question 1 case

Practical Assessment- Case Study Assignment Question 1: Case study You are a financial adviser and the following information is an extract of data you gathered as part of fact finding during an initial client consultatio ...

Titania co sells p 400000 of 12 bonds on june 1 2010 the

Titania Co. sells P 400,000 of 12% bonds on June 1, 2010. The bonds pay interest or December 1 and June 1. The due date of the bonds is June 1, 2014. The bonds yield 10% On October 1, 2011, Titania buys back P 120,000 wo ...

Fill in the amounts for x y and z in the following table

Fill in the amounts for X, Y, and Z in the following table. (The company started business on January 1, 2009 31-Dec-09 31-Dec-10 Assets $4,750 $5,350 Liabilites 2150 $1,400 Cantributed Capital $1,200 $1,200 Retained earn ...

Instructionchapters 1 2 3 4your assignment must be planned

Instruction:. Chapters: 1, 2, 3, 4 Your assignment must be planned, organized, typed properly, no hand written assignment will be accepted. Use pdf file to send your assignment. Please note that this assignment is an exc ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate