BE 6.01 – Apache Company
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Asks how much revenue Apache should recognize and when.
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Asks how much revenue Apache should recognize and when.
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Asks how much revenue Varga should recognize in the first year.
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Asks for the journal entry to record the sale of software.
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Given the contract price and the percentage that it would be recognized as revenue… find the amount of revenue that should be reported.
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Given the amount of the contract along with the probability for the project… find what you should recognize as revenue under IFRS.
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Find how many performance obligations exist in the implied contract when a customer registers for the services.
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Given details on a contract… determine the number of obligations.
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Given details on a contract and the opportunity for a discount at the time of purchase… determine the number of performance obligations.
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Given the number of boxes sold, price per box, days to return, and the percent of sales returned… determine the amount of performance obligations and January revenue.
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Given the details of a contract with fixed and additional fees… determine the transaction price.
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