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Revenue Recognition Examples

I understood what you did with the previous submission..The notes you included helped alot.


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For your convenience, I have attached a formatted MS Excel file containing the text below. I have also provided notes which should help in gaining a better understanding of the provided material.

I am also resubmitting the Help1 and Help2 files, as I have made a slight change to the "sold merchandise to the following consumers" sections in both papers, that will better reflect the movement of merchandise out of inventory with their respective costs being appropriately applied to a Cost of Goods Sold account.

Markup on all sales is 25%. For example, a retail price of $100.00 means the wholesale price is $80.00 ($80.00x 1 .25 = $100.00). Purchases are recorded at ...

Solution Summary

This posting contains a formatted MS Excel spreadsheet that contains examples in the area of revenue recognition