Multiple Choice
Ramos Company ordered 500 toy wagons from Lamar, Inc.on May 1, 2010.Ramos Company paid for them on May 20 at a cost of $2 each.Ramos sold 50 of them on June 2, 2010, for $5 each to Gilloz Company.Gilloz Company paid Ramos on June 10.
-
On which date should Ramos Company recognize revenue?
A) May 1
B) May 20
C) June 10
D) June 2
Correct Answer:
Verified
Correct Answer:
Verified
Q31: Large public accounting firms employ graduates from
Q32: Match the descriptions listed in letters a
Q33: Match the descriptions listed in letters a
Q34: On May 1, 2009, $6,000 of annual
Q35: For each financial concept listed in below,
Q36: Jackson Construction built a levee for the
Q37: During 2010, Markham Company sold $20,000 of
Q38: For each transaction numbered below, identify its
Q40: For each financial concept listed in below,
Q41: Jarrad Company has been in business several