intermediateaccountingrevenuerecognition-資料下載頁(yè)
2025-08-12 20:54本頁(yè)面
【導(dǎo)讀】RevenueRecognition. Stice|Stice|Skousen. 8-2. RevenueRecognition. books.TheFASB’stwocriteriafor. StatementNo.5.8-3. recognizedwhen:. process.RevenueRecognition. 8-4. RevenueRecognition. service.payment.thesale.8-5. criteria:. exists.RevenueRecognition. 8-6. AppropriateLayaway. Accounting. payment:. Cash100. Receiptoffinal$1,400cashpaymentand. Cash1,400. Sales1,500. CostofGoodsSold1,000. Inventory1,000. 8-7. tothesign-upfee,thecustomeris. requiredtopay$50permonthfor. 100months,whichistheeconomic. 8-8. Cash1,000. Cash50. asrevenue($1,000/100months):. 8-9. EITF00-21. 8-10. year.Therewere1,000customers.8-11. 8-12. OnJanuary1,OwnerCompanysigned. addition,therentermustpay. contingentrentof10%ofallann
【正文】 or LongTerm Service Contracts $24,000 $60,000 ? $5,000 848 Revenue Recognition After Delivery of Goods 849 Installment Sales Method ? Under the installment sales method, profit is recognized as cash is collected rather than at the time of sale. ? It is used most monly in cases of real estate sales where contracts may involve little or no down payment, payments are spread over 10 to 40 years, and a high probability of default in the early years exists. 850 Installment Sales Method Riding Corporation sells merchandise on the installment basis, and the uncertainties of cash collection make the use of the installment method necessary. The following data relate to three years of operations. (continues) 851 Installment Accounts Receivable— 2020 150,000 Installment Sales 150,000 Cost of Installment Sales 100,000 Inventory 100,000 Cash 30,000 Installment Accounts Receivable— 2020 30,000 2020— During the Year (continues) Installment Sales Method 852 Installment Sales 150,000 Cost of Installment Sales 100,000 Deferred Gross Profit— 2020 50,000 Deferred Gross Profit— 2020 10,000 Realized Gross Profit on Installment Sales 10,000 $30,000 ? % 2020— End of Year Installment Sales Method (continues) 853 Installment A/R— 2020 200,000 Installment Sales 200,000 Cost of Installment Sales 140,000 Inventory 140,000 Cash 145,000 Installment A/R— 2020 75,000 Installment A/R— 2020 70,000 2020— During the Year Installment Sales Method (continues) 854 Installment Sales 200,000 Cost of Installment Sales 140,000 Deferred Gross Profit— 2020 60,000 Deferred Gross Profit— 2020 25,000 Deferred Gross Profit— 2020 21,000 Realized Gross Profit on Installment Sales 46,000 $75,000 ? % $70,000 ? 30% 2020— End of Year Installment Sales Method (continues) 855 Installment A/R— 2020 300,000 Installment Sales 300,000 Cost of Installment Sales 204,000 Inventory 204,000 Cash 210,000 Installment A/R— 2020 30,000 Installment A/R— 2020 80,000 Installment A/R— 2020 100,000 2020— During the Year Installment Sales Method (continues) 856 Installment Sales 300,000 Cost of Installment Sales 204,000 Deferred Gross Profit— 2020 96,000 Deferred Gross Profit— 2020 10,000 Deferred Gross Profit— 2020 24,000 Deferred Gross Profit— 2020 32,000 Realized Gross Profit on Installment Sales 66,000 $30,000 ? % $80,000 ? 30% 2020— End of Year $100,000 ? 32% Installment Sales Method 857 Cost Recovery Method If the probability of recovering product or service costs is remote, the cost recovery method of accounting can be used. 858 All entries are the same except do not record gross profit until all costs are recovered. Deferred Gross Profit— 2020 5,000 Realized Gross Profit on Installment Sales 5,000 2020 (continues) Cost Recovery Method 859 Because the cash collected in 2020 for 2020 sales is less than the cost of inventory sold, no gross profit would be recognized in 2020 on 2020 sales. Deferred Gross Profit— 2020 30,000 Deferred Gross Profit— 2020 10,000 Realized Gross Profit on Installment Sales 40,000 2020 Cost Recovery Method
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