- Pharoah Co Enters Into A Contact To Sell Product A And Product B On January 2 2020 For An Upfront Cash Payment Of 22 1 (22.03 KiB) Viewed 8 times
- Pharoah Co Enters Into A Contact To Sell Product A And Product B On January 2 2020 For An Upfront Cash Payment Of 22 2 (12.1 KiB) Viewed 8 times
- Pharoah Co Enters Into A Contact To Sell Product A And Product B On January 2 2020 For An Upfront Cash Payment Of 22 3 (7.56 KiB) Viewed 8 times
- Pharoah Co Enters Into A Contact To Sell Product A And Product B On January 2 2020 For An Upfront Cash Payment Of 22 4 (14.08 KiB) Viewed 8 times
- Pharoah Co Enters Into A Contact To Sell Product A And Product B On January 2 2020 For An Upfront Cash Payment Of 22 5 (16.32 KiB) Viewed 8 times
- Pharoah Co Enters Into A Contact To Sell Product A And Product B On January 2 2020 For An Upfront Cash Payment Of 22 6 (26.89 KiB) Viewed 8 times
- Pharoah Co Enters Into A Contact To Sell Product A And Product B On January 2 2020 For An Upfront Cash Payment Of 22 7 (26.89 KiB) Viewed 8 times
- Pharoah Co Enters Into A Contact To Sell Product A And Product B On January 2 2020 For An Upfront Cash Payment Of 22 8 (24.38 KiB) Viewed 8 times
- Pharoah Co Enters Into A Contact To Sell Product A And Product B On January 2 2020 For An Upfront Cash Payment Of 22 9 (23.74 KiB) Viewed 8 times
- Pharoah Co Enters Into A Contact To Sell Product A And Product B On January 2 2020 For An Upfront Cash Payment Of 22 10 (23.75 KiB) Viewed 8 times
- Pharoah Co Enters Into A Contact To Sell Product A And Product B On January 2 2020 For An Upfront Cash Payment Of 22 11 (26.11 KiB) Viewed 8 times
Prepare the journal entries necessary on January 2, 2020, and December 31, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Cre
Part 2 Prepare the journal entry needed on December 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts
Prepare the journal entry needed on January 2, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Date Account Titles and Explanation January 2, 2022 Debit Credit
Part 4 Using Excel or a financial calculator, calculate the amount of revenue to be recognized for Product B. (Round answer to 2 decimal places, eg 5,275.25) Amount of revenue to be recognized S Prepare the journal entry needed on January 2, 2025. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 0 decimal places, eg. 5,275.)
Question 3 of 6 Pharoah Co. enters into a contact to sell Product A and Product B on January 2, 2020, for an upfront cash payment of $220,000. Product A will be delivered in two years (January 2, 2022) and Product B will be delivered in five years (January 2, 2025). Pharoah Co. allocates the $220,000 to Products A and B on a relative stand-alone selling price basis as follows. Product A Product B Stand-Alone Selling Prices $46,000 184,000 $230,000 Part 1 Percent Allocated 20% 80% Allocated Amounts $44,000 176,000 $220,000 Pharoah Co. uses an interest rate of 5%, which is its incremental borrowing rate. -/1 : 6:40 PM D TOOM11
Question 3 of 6 < Part 1 > Date Prepare the journal entries necessary on January 2, 2020, and December 31, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Account Titles and Explanation -/1 Debit Cre 01:40:
Part 2 Prepare the journal entry needed on December 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Account Titles and Explanation Date December 31, 2021 4 eTextbook and Media List of Accounts Debit Credit 94D ERF 7/2/20
Save for Later Part 3 Date January 2, 2022 Prepare the journal entry needed on January 2, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Account Titles and Explanation eTextbook and Media -/1 = 1 Debit Attempts: 0 of 3 used Submit Answer Credit 6:41 …..
B 28°C Sunny Part 4 Using Excel or a financial calculator, calculate the amount of revenue to be recognized for Product B. (Round answer to 2 decimal places, eg. 5,275.25.) Amount of revenue to be recognized $ -/1 E 1 Repare the journal entry needed on January 2, 2025. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to O decimal places, eg. 5,275.) Date Account Titles and Explanation January 2 2025 Debit Credit 641 PM 7/2/2002