Aflower shop makes a large sale for $1,000 on november 30. the customer is sent a statement on december 5 and a check is received on december 10. th flower shop follows gaap ad applies the revenue recognition principle. when is the $1,000 considered to be earned?

The $1,000 considered to be earned on November 30

Explanation:

According to the Generally Accepted Accounting Principles, the revenue recognized principle says that when sales is made irrespective of whether company received payment or not.

Here recognized means that good are delivered and services are rendered to the customers which is recorded in the books of the accounts on that date itself.

There is no mean when the company received payment from the customer.

So in the given question, the flower shop makes a large sale on November 30 but the check is received on December 10.

By going through the above explanation, the $1000 considered to be earned on November 30 in respect of December 05 or December 10

in 2001, dell computer became the world’s largest personal computer vendor, continuing to

gain market share and post profits in an industry struggling with slumping sales and billions of

dollars in losses. dell sells 90% of its pcs directly to the final customer, largely bypassing the

reseller channel that accounts for most of the world’s pc sales. this direct customer relationship

is the key to dell’s business model, and provides distinct advantages over the indirect sales

model. dell’s direct relationship with the customer allows it to tailor its offerings to customer

needs, offer add-on products and services, and use the internet to offer a variety of customer

services. in addition, dell’s pcs are built to customers’ specifications upon receipt of an order,

giving dell additional advantages over indirect pc vendors who must try to forecast demand and

ship products based on those forecasts. dell’s direct sales and build-to-order model has achieved

superior performance in the pc industry in terms of inventory turnover, reduced overhead, cash

conversion, and return on investment (kraemer, et al., 2000).

explanation:

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