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
<span>Of the seven commonly used organizational buying criteria, consumer demand is very important. If the consumer wants the product and is sure to purchase the product, organizational financial goals are likely to be met as the product will quickly sell.</span>
Answer:
$4,000
Explanation:
Based on this scenario, this individual would be able to contribute a total of $4,000 to a Traditional Individual Retirement Account for this year. This is because a traditional IRA allows you to contribute 100% of your earned income up to a capped $5,500 per year but does not allow you for pension income contributions. Therefore this individual cannot contribute any of the $55,000 but can contribute all of the $4,000 she earned since she does not reach the limit.