Lse St205 Project - Financial Accounting
Autor: goude2017 • September 18, 2018 • 1,997 Words (8 Pages) • 769 Views
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Assets (000’s)
Liabilities
(000’s)
Stockholder’s Equity (000’s)
Other
Accts
Interest
Other
Common
Retained
R/E
Event
Cash
A/R
Equip.
Autos
assets
Payable
Payable
Liabilities
Stock
Earnings
Explanation
1
500
500
2
200
200
3
(210)
210
4
(150)
150
(50)
(50)
Lease Expense
5
100
100
6
(55)
55
7
400
400
Cisco Commission Revenue
8
(17)
17
(8.5)
(8.5)
Expense
9
300
300
Revenue
10
140
(140)
11
275
(275)
12
(20)
20
(10)
(10)
Expense
13
(110)
(110)
SG&A Expense
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Assets
Liabilities
Stockholder’s Equity
Other
Accts
Interest
Other
Common
Retained
R/E
Event
Cash
A/R
Equip.
Autos
assets
Payable
Payable
Liabilities
Stock
earnings
Explanation
14
(175)
(175)
Wage Expense
15
(25)
(25)
Dividends
O1
20
(20)
Interest Expense
O2
O3
40
(40)
Wage Expense Dec.
Other
Transactions
(if necessary)
A
B
C
D
E
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Question 2: Revenue Recognition at Barnes and Nobles
Barnes and Noble has a membership program, where it charges members $40 per year, and gives members at least a 15% off on all of their purchases for the year. The membership fee is non-refundable after 30 days. Page 41 of Barnes and Noble’s 2016 annual report states the following:
“The Barnes & Noble Member Program offers members greater discounts and other benefits for products and services,
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