On November 1, 2022, SAN JOSE receives an order from a customer for a computer as well as 12 months of technical support. The company delivers the computer to customer on same day (Dec 1). The customer paid the P 50,400 upfront. The computer sells for P 36,000- standalone price. What is the total revenue to be recognized at Dec. 31, 2022?
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On November 1, 2022, SAN JOSE receives an order from a customer for a computer as well as 12 months of technical support. The company delivers the computer to customer on same day (Dec 1). The customer paid the P 50,400 upfront. The computer sells for P 36,000- standalone price.
What is the total revenue to be recognized at Dec. 31, 2022?
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- Smith & Sons is a CPA firm that provides proprietary software to its clients. One of its software packages sells for $150 and contains pre-programmed tutorials on basic accounting concepts. Another product sells for $3,000 and contains Smith & Sons’ archive of accounting standards and articles, which Smith & Sons updates on a weekly basis and downloads to archive users for the two years following purchase of the product. If a customer purchases both software packages on June 1, 2021, how much revenue should Smith & Sons recognize for the year?Seacost Magazine sells subscriptions for $36 for 18 issues. The company collects cash in advance and then mails out the magazines to subscribers each Apply the revenue recognition principle to determine A. when seacost magazine should record revenue for this situation B. the amount fo revenue seacost magazine should record for eight issuesQuestion involving Revenue Recognition: How much revenue should be recognized by the following Company, in each of the month's of March, April, May, June, July, August, and September? A company pre-sells services to be performed from May through September, inclusive. If payment is made in full by April 1, a 4% discount is allowed. In March, 245 customers took advantage of the discount and purchased the services for $650 each. In June, 220 customers purchased the services for $785, and in July, 95 purchased it for the same price. For the customers who pay after May 1, services start in the month the customer makes the payment. Please explain for each month. Months $ March April May June July August September