BE 6.23 – O’Hara Associates
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Given the price of clubs with and without services … find the stand-alone price for the service under the residual approach.
Given the price of clubs with and without services … find the stand-alone price for the service under the residual approach.
Given the information on two licenses that are sold on September 1 … find the amount of revenue.
Given the amount received from the franchisee, the stand-alone price, and the amount received per year… find the recognized revenue.
Given the price that rods were sold for along with the month that they were held till… find the revenue that is recognized in year 1.
Given the retail price and commission percentage… find the amount to be reported as an expense.
How much revenue with respect to these four paintings should Kerianne recognize?
Given the amount of gift cards sold, gift cards that redeemed, and remaining gift cards… determine the amount of revenue that is to be recognized.
Given the payment received, the additional payment… find the contra asset, contra liability. and the accounts receivable.
Given the account balance, the CIP, the contract balance, and the billings account… find the amount of contract asset and/or contract liability for the balance sheet.
Given the cost of a contract, the cost of construction costs in the first year, and the cost to complete… calculate how much revenue and gross profit will be in the income statement during the first year of the contract.