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Insert Sentence in the Accounting Contract

Insert Sentence in the Accounting Contract

Aug 6th, 2022

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How to Insert Sentence in the Accounting Contract

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In this session, we explore a CPA exam simulation focused on contract modification. On September 20x2, Roger Distributors Inc committed to sell 150 iPhone compatible covers to Staples for $1,500, at $10 per cover, to be delivered over six months. After delivering 90 covers, the contract was modified to include an additional 45 covers at a selling price of $9.50 each, totaling $427.50. All transactions between the two companies were cash on delivery, and Roger's cost per cover was $4. The session will involve preparing journal entries using the Perpetual Inventory System, starting with the sale of the first 90 covers at $10 each.

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