During 2009, Aisin Seiki Limited sold 2,000 square meters of prime commercial zoned land to a builder for ¥5,000,000. The builder gave Aisin Seiki Limited a ¥1,000,000 down payment and will pay the remaining balance of ¥4,000,000 to Aisin Seiki Limited in 2010. Aisin Seiki Limited purchased the land in 2002 for ¥3,000,000. Using the installment method, how much profit will Aisin Seiki Limited report for 2009 (in Japanese Yen, \)? Select one: O a. 600,000 Ob. 400,000 O c. 1,000,000 O d. 3,000,000 0

During 2009, Aisin Seiki Limited sold 2,000 square meters of prime commercial zoned land to a builder for ¥5,000,000. The builder gave Aisin Seiki Limited a ¥1,000,000 down payment and will pay the remaining balance of ¥4,000,000 to Aisin Seiki Limited in 2010. Aisin Seiki Limited purchased the land in 2002 for ¥3,000,000. Using the installment method, how much profit will Aisin Seiki Limited report for 2009 (in Japanese Yen, \)? Select one: O a. 600,000 Ob. 400,000 O c. 1,000,000 O d. 3,000,000 0

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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2
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