Use the Following Information for Questions

question 377

Short Answer

Use the following information for questions. On April 1, Harmonica Corp.consigned 50 handcrafted benches to Organ Co.Harmonica's cost was $350 per bench.Total freight costs were $700, which were paid by Organ.On August 1, Harmonica received a cheque for $14,100 from Organ which included the following information: Revenue Recognition 6 - 21
-The inventory of benches will be reported on whose statement of financial position and at what amount?

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Definitions:

Early Adopters

Individuals or businesses who are among the first to acquire and use new technologies or products, often serving as influencers for later buyers.

Diffusion of Innovation

The method through which an innovation, item, or way of acting proliferates across a group or societal structure as time progresses.

Diffusion of Innovation

An idea focused on elucidating the processes, causes, and velocities at which new technologies and concepts proliferate across cultures.

Late Majority

A segment of a product adoption cycle referring to individuals who adopt new technology or products after the average member of society.