Cigaro recognize for the month of April?
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In January, Cigaro Corp. agrees to a contract to sell 14,000 sports caps for $140,000 to Dilly, Inc. In March, after 5,000 caps have been delivered, Cigaro and Dilly modify the agreement to sell an additional 6,000 caps for $33,000 which is significantly lower than Cigaro's stand-alone selling price at that time. During April, Cigaro delivers 2,000 caps. How much revenue will Cigaro recognize for the month of April?
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- On July 15, Zink Jewels agrees to a contract to sell 4,000 promise rings for $100,000 to Costless Stores, Inc. On October 1, after 2,000 rings pair of have been delivered, Zink and Costless modify the agreement to reduce the price of the remaining 1,000 rings to $12 each. During October, Zink Jewels delivers 600 rings. How much revenue will Zink recognize for the month of October?$7,200 $2,175 $3,300 $13,050In January, Cigaro Corp. agrees to a contract to sell 14,000 sports caps for $140,000 to Dilly, Inc. In March, after 5,000 caps have been delivered, Cigaro and Dilly modify the agreement to sell an additional 6,000 caps for $33,000 which is significantly lower than Cigaro's stand-alone selling price at that time. During April, Cigaro delivers 2,000 caps. How much revenue will Cigaro recognize for the month of April?$11,000 $16,400 $15,500 $17,300Binco Brass Corp. (BBC) is a wholesaler that sells musical instruments to retailers. On February 1 of the current year, BBC contracts with Music Extravaganza, Inc. (MEI) to sell 1,000 trumpets to MEI with delivery scheduled for the month of February. The contract price is $500 per trumpet. However, the contract includes the possibility of a volume discount if total annual purchases exceed a given amount. These discounts are as follows: If Total Sales Equal or Exceed Discount Percentage $1,000,000 1% $2,000,000 2% $5,000,000 5% These discounts are retroactive—once a volume trigger is met, BBC refunds to MEI amounts on previous purchases. BBC believes that it is 15% likely that it will not contract with MEI again this year. BBC believes the following probability estimates are accurate: Total Sales Probability $500,000 15% $1,000,000 60% $2,000,000 20% $5,000,000 5% Using the expected-value approach, what is the estimate of the…
- Crane Inc. sells prepaid telephone cards to customers in its convenience stores. When Crane sells cards, it then pays the telecommunications company, Blossom, for the value of the cards less a 20% commission. Assume that Crane receives $3,600 of prepaid cards in January 2025. Crane sold 45% of the cards in February, 30% in March, and 25% in April. The total payment by Crane to Blossom over the 3 months is $2,880. Indicate how much income Crane should recognize in January, February, March, and April. (If answer is 0, please enter O. Do not leave any fields blank.) January income February income $ March income $ April income $ $What is the transaction price for the following scenario: Scenario A: Tula Inc. sells $20,000 of inventory for $45,000 during the year. Tula estimates returns to be 4% of sales. Scenario B: Universe enters into a contract with a new customer for $12,000. As part of this agreement, Universe agrees to pay $4,000 to the customer to compensate the customer for up-front processing costs. A: $43,200 B: $8,000 A: $43,200 B: $12,000 A: $45,000 B: $8,000 A: $45,000 B: $12,000 None of the aboveBlossom Inc. sells prepaid telephone cards to customers in its convenience stores. When Blossom sells cards, it then pays the telecommunications company, Cullumber, for the value of the cards less a 20% commission. Assume that Blossom receives $4,000 of prepaid cards in January 2025. Blossom sold 50% of the cards in February, 30% in March, and 20% in April. The total payment by Blossom to Cullumber over the 3 months is $3,200. Indicate how much income Blossom should recognize in January, February, March, and April. (If answer is 0, please enter O. Do not leave any fields blank.)
- AB Corporation has a contract to sell 50,000 boxes of chocolate to a customer for P 20 million or P 400 per boxes over a three-month period. After the delivery of 30,000 boxes, AB modifies the contract by promising to deliver additional 10,000 boxes of Chocolate for an additional P 3.6 million or P 360 per boxes. AB regularly sells the products separately. Determine the total revenue after the modification. (no peso sign, no comma, only whole number)Commando Corp. agrees to sell 100 of its products to M&H Co. for P30,000 in August 2021. (P300 per product). The goods will be delivered to M&H over the following six months. The contract is updated after 60 merchandises are supplied, and Common offers to provide 80 more things for an extra P21,600 (P270 per station). Commonlo provided an extra 90 goods at the end of the year. All sales are made in cash upon delivery. Consider that the added term is a potential change to the original contract. That however much income will be recognised under the contract in 2021?ABC Corp supplies laptops to large businesses. On July 1, 2018, ABC Corp entered into a contract with XYZ Co., under which XYZ Co, was to purchase laptops at P10,000 per unit. The contract states that if XYZ Co purchases more than 500 units in a year, the price per unit is reduced respectively to P9,000 per unit. ABC Corp’s year end is June 30. a.As at Sept. 30, 2018, XYZ Co had bought 70 laptops from ABC Corp. The latter estimated that XYZ Co purchases would not exceed 500 in the year to June 30, 2019 and XYZ Co would therefore not be entitled to the volume discount. b.During the quarter ended Dec. 31, 2018, XYZ Co expanded rapidly as a result of a substantial acquisition, and purchased an additional 250 laptops from ABC Corp. ABC Corp then estimated that XYZ Co’s purchases would exceed the threshold for the volume discount in the year to June 30, 2019. Required: Calculate the revenue ABC Corp would recognize in: a. Quarter ended Sept. 30, 2018
- Sunland, Inc. is a distributor of prepaid telephone cards to customers in its convenience stores. When Sunland sells the cards, it then pays the telecommunications company, TeleExpress, less a commission of 20 percent of the selling price to customers. Sunland receives $4,200 in cards in January 2020. Sunland sold 45% of the cards in February, 30% in March, and 25% in April. It costs TeleExpress $3,000 to provide the telephone service on the cards sold by Sunland.Indicate how much income Sunland should recognize in January, February, March, and April.Stellar, Inc. is a distributor of prepaid telephone cards to customers in its convenience stores. When Stellar sells the cards, it then pays the telecommunications company, TeleExpress, less a commission of 20 percent of the selling price to customers. Stellar receives $3,800 in cards in January 2020. Stellar sold 55% of the cards in February, 30% in March, and 15% in April. It costs TeleExpress $2,900 to provide the telephone service on the cards sold by Stellar. Indicate how much income Stellar should recognize in January, February, March, and April.Westinghouse Company, a producer of washing machines, sells various customers. It has a contract to deliver 10 fully automatic washing machines to Soft and Wash Company for a total price of P400,000. The contract contains a clause for free repairs and maintenance services for a period of two years from date of purchase. Soft & Wash paid 50% of the price and half after 3 months. 1. How much sales revenue vill be recognized by Westinghouse on this sale? P400,000 b. P100,000 а. C. P200,000 d. No revenue