Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. crane company sells goods that cost $493,500 to ce

Crane Company sells goods that cost $493,500 to Ceradyne Company for $573.000 on January 2.2025...

70.2K

Verified Solution

Question

Accounting

image
image
image
Crane Company sells goods that cost $493,500 to Ceradyne Company for $573.000 on January 2.2025 on account. The saies price includes an installation fee, which is valued at $64,500. The fair value of the goods is $508,500. The installation is considered s separate performance obligation and is expected to take 6 months to complete. Crane prepares an income statement for the first quarter of 2025, ending on March 31, 2025 (installation was completed on June 18, 2025) How much revenue should Crane recognize related to its sale to Ceradyne

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

For Monday Ajaa recorded gross sales of 4 000 She also noticed sales returns and...

Basic Math
Q

Amortize a 30-year mortgage for a $200,000 house cost with a 20% down payment. The mortgage...

Finance
Q

The budgeting process for a midwestern college resulted in expense forecasts for the coming year (in...

Basic Math
Q

The Petroco Company uses a highly toxic chemical in one of its manufacturing processes. It must...

Accounting
Q

The length of a city block is 500 metres How many city blocks are in...

Calculus
Q

factor the following polynomial function completely Use the Conjugate Roots Theorem if applicable x x6...

Algebra
Q

In 2 minutes, a conveyor belt moves 300 pounds of recyclable aluminum from the delivery...

Algebra
Q

1. Calculate the company's break-even point in sales dollars. (Do not round intermediate...

Accounting
Q

these are the formulas SECTION A: PRACTICAL QUESTIONS TOTAL:...

Accounting
Q

The Lubrano Corp. uses the income statement approach to estimating bad debt expense. In Year...

Accounting
Q

Papyrus Corp manufactures several products. Papyrus Corp has gathered the following information for the year...

Accounting
Q

11. value: 4.00 points Eaton Electronic Company's treasurer uses both the capital asset pricing model...

Finance