Ask Experts Questions for FREE Help !
Ask
    legsars's Avatar
    legsars Posts: 2, Reputation: 1
    New Member
     
    #1

    Feb 27, 2012, 11:05 AM
    A company purchases airplanes for sale to others.
    A company purchases airplanes for sale to others. However, until they are sold, the company charters and services the planes. What is the proper way to report these airplanes in the company's financial statements?

Check out some similar questions!

Cost of goods available for sale & Purchases [ 3 Answers ]

Beginning Inventory $20,000 Purchases Purchase R & A $5,000 Frt In $8,000 Cost of Goods Sold $233,000 Sales $290.00 Sales Return $11000 Ending Inventor Gross profit on Sale 446,000

If firms pay cash for 10% of its purchases,50% of its purchases in the following mont [ 0 Answers ]

If firms pay cash for 10% of its purchases,50% of its purchases in the following month and the balance two months frommonth of purchase.How can I calculate the purchases.

When a company purchases preferred stock at 2% par $100 what value is recorded? [ 3 Answers ]

The reason I am asking is I am trying to find out the ROI, and I am not sure which value to use as my initial investment. I think it should be the preffered dividend, which is $2.00 per share, but confirmation on this guess would be nice :) Thank you!

What happens if the same company purchases shares ? [ 2 Answers ]

I require a journal entry. The question is: You received 10,000 shares in X ltd that are trading in the market for $3 per shares, as a GIFT from your regular client.

The company purchases some office equipment for $1400 and pay a $100 delivery charge. [ 2 Answers ]

The company purchases some office equipment for $1400 and pay a $100 delivery charge. You sign a note payable To Office Warehouse for the cost of the equipment. The note is a two month, 12% note. You write a check to Express Delivery Company for the $100 delivery charge. The estimated useful...


View more questions Search
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.