a. Innotech Apps Berhad entered two contracts on the same date with Advance Cool Corporation. Innotech Apps has provided the following analysis of price and cost for the contracts: Contract price Cost of related goods Gross profit (loss) Helixx Primaxx RM 250,000 RM 275,000 175,000 215,000 65,000 75,000 RM RM Advance Cool, the customer, may cancel both contracts if either of them is not fulfilled by Innotech Apps in a timely manner. Stand-alone prices are typically RM275,000 for the goods in Helixx and RM 300,000 for the goods in Primaxx.

a. Innotech Apps Berhad entered two contracts on the same date with Advance Cool Corporation. Innotech Apps has provided the following analysis of price and cost for the contracts: Contract price Cost of related goods Gross profit (loss) Helixx Primaxx RM 250,000 RM 275,000 175,000 215,000 65,000 75,000 RM RM Advance Cool, the customer, may cancel both contracts if either of them is not fulfilled by Innotech Apps in a timely manner. Stand-alone prices are typically RM275,000 for the goods in Helixx and RM 300,000 for the goods in Primaxx.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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See below information from exercise 12-9
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