1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
givi [52]
3 years ago
15

On November 1, 2019, Gerakos Corporation sold software and a six-month technical support contract to a customer for $80,000. Ger

akos sells the same software without technical support for $60,000. It does not sell technical support separately. Gerakos uses the residual method to allocate the transaction price.
Business
1 answer:
Brilliant_brown [7]3 years ago
8 0

Answer:

The question requirement relates to the amount of revenue to be recognized in year 2019 and 2020 respectively.

2019 Revenue is $66,667

2020 Revenue $13,333

Explanation:

The total price of $80,000 is split into $60,000 which is standalone  price of the software and the balance relates of $20,000($80,000-$60,000) relates to technical support.

It is important to note that the selling price of software of $60,000 is due for recognition as revenue, while technical support fee of $20000 should be recognized on a progress basis,for each month the technical support has been rendered.

2019 Revenue

Software                                                 $60,000

Technical support($20000*2/6)             $6,667

Total                                                         $66,667

2020 Revenue

($80,000-$66,667)                                  $13,333

You might be interested in
Marilyn, Bob, and Carl all believe a certain defendant is probably guilty and should be sentenced. Individually their recommenda
bazaltina [42]

Answer:

Explanation:

Group polarization is a concept in social psychology where the decision made by a group of people is more extreme to the decision made by the individual members of the group.

The members of the group recommended 3,5,7 years as prison sentence individually but 10 years together. 10 years is more extreme when compared to the sentences recommended individually.

I hope my answer helps you.

5 0
3 years ago
Which of the following individuals has enrolled in a plan on a fixed income
ahrayia [7]

Fixed income gives a steady of income to the individual.

<h3>What is a fixed income?</h3>

The complete question wasn't found online. An overview was given as the complete information wasn't found.

It should be noted that a fixed income means an investment approach that is focused on presentation of capital and income.

The examples of fixed income include municipal bonds, certificate of deposit, etc.

It should be noted that fixed income orders a steady stream of income with less risk.

Learn more about income on:

brainly.com/question/2021736

#SPJ1

5 0
2 years ago
Assume that global cleaning service performed cleaning services for a department store on account for​ $180. how would this tran
mart [117]
The transaction effect on the global cleaning service's accounting equation is to increase both assets and equity by $180. 
An asset is a property or an equipment that is purchased for the purpose of business activities, examples of business assets include cash, equipment, buildings and inventory to vehicles and office furniture. In this case assets worth $180 increased (may be cash or bank, depending on the means of payment) and also an increase in equity.
5 0
3 years ago
a corporation reported cash of $15,800 and total assets of $180,100 on its balance sheet. its common-size percent for cash equal
Veseljchak [2.6K]

Its common-size percent for cash equals 8.77%.

Cash is prison gentle—currency or coins—that may be used to change items, debt, or offerings. Every so often additionally it is the value of the property that may be easily converted into coins right away, as stated through an employer.

A cash price is bills or cash paid by the recipient of products or services to the issuer. It can also contain a fee inside an enterprise to employees in compensation for their hours worked or to pay off them for minor prices which are too small to be routed thru the accounts payable device.

Coins in a bank mean the contemporary balance in checking accounts, savings accounts, or the like within the call of the enterprise/enterprise applying for a certificate. Do now not encompass retirement bills or personal bank account balances.

Percent of cash to total asset    = Cash / Total Assets

                                                 = 15800 / 180100

                                                 = 8.77%

Learn more about cash here brainly.com/question/24179665

#SPJ4

6 0
1 year ago
PLEASE HELP ME!
cestrela7 [59]
If I'm not mistaken the answer is B - demographics
8 0
3 years ago
Read 2 more answers
Other questions:
  • A trucking company is hired to deliver 125 lamps for $12 each the company agrees to pay $45 for each lamp that is
    5·1 answer
  • ______________ produce fundamental changes that can transform a company or even revolutionize an industry, while ______________
    12·1 answer
  • Describe at least three other investments you want to make with your income either now or someday in the future. Explain why you
    15·2 answers
  • Exercise 5-66 Bad Debt Expense: Percentage of Credit Sales Method Gilmore Electronics had the following data for a recent year:
    11·1 answer
  • JPL Company has two segments - Retail and Commercial. The Retail segment has a contribution margin ratio of 40% and traceable fi
    14·1 answer
  • The product-variety externality is associated with the A. consumer surplus that is generated from the introduction of a new prod
    10·1 answer
  • Pierre Corporation has a precredit U.S. tax of $315,000 on $1,500,000 of taxable income in the current year. Pierre has $300,000
    12·1 answer
  • The Jacksonville Jaguars sell season tickets to NFL football games. There are 10 home games during the season, which runs from A
    6·1 answer
  • Sandra has been working for six months at TUV Technologies. During that time she has compiled an impressively long list of names
    7·1 answer
  • Planning, implementing, and controlling the physical flow of a product from its point of origin to its point of consumption is c
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!