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ANTONII [103]
3 years ago
13

Sarjit Systems sold software to a customer for $176,000. As part of the contract, Sarjit promises to provide "free" technical su

pport over the next six months. Sarjit sells the same software without technical support for $153,000 and a stand-alone six-month technical support contract for $27,000, so these products would sell for $180,000 if sold separately. Prepare Sarjit’s journal entry to record the sale of the software. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Business
1 answer:
My name is Ann [436]3 years ago
7 0

Answer:

DR Cash ..............................................................$ 176,000

CR Sales Revenue................................................................$149,600

CR Deferred Revenue..........................................................$26,400

Explanation:

Revenue should only be recorded when earned and as the 6 month technical support can be sold separately, it is revenue that has not be earned yet as the 6 months have not elapsed. This will therefore need to be recorded as Deferred revenue.

Sold alone, the revenue is more than when they are sold together so use the standalone price to find out the revenue when sold together by proportionality.

Sales revenue = 153,000/180,000 * 176,000

= $149,600

Deferred Revenue = 27,000/180,000 * 176,000

= $26,400

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borishaifa [10]

Answer:

$25,000 will be an ordinary income(FMV)

Explanation:

Kate received an offer of unrestricted partnership capital interest for the expertise services. so, Kate recognizes it's an "ordinary income"which should be booked at the fair market value of the partnership interest so offered.

i.e $25,000 is ordinary income (FMV)

6 0
3 years ago
What does it mean to provide customer service? PLEASE HELP
stepan [7]

Answer:

Providing excellent customer service means going the extra mile in making sure a customer is happy and satisfied with a company's products or services. It also involves providing service to a customer in a timely, pleasant manner.

8 0
3 years ago
ACES is a quality auditing firm. It has dedicated a team of managers, business analysts, and system analysts to develop an infor
ivann1987 [24]

Answer: (4) Requirement analysis

Explanation:

 The requirement analysis is one of the process of determine the actual user expectation for building the new product with the help of new modifications.

The requirement analysis is one of the phrases of SDLC (Software development life cycle). The requirement analysis is also known as requirement engineering.

According to the question, the requirement analysis is one of the software development life cycle phase in which the information system are produced by using the report according to the organization quality.

Therefore, Option (4) is correct.

3 0
3 years ago
Match the steps for conducting an informational interview with the task involved in each step or its purpose.
notsponge [240]

Explanation:

Informational interview is a bit different interview than a conventional interview. In this interview, a person seeks information from the interviewer. For example if you wish to take an interview of a scientist, you are actually seeking information from him.

In this question, the steps for conducting an informational interview match the following tasks:

1) Research your chosen career field.

a) Learn more about the company that interests you.

2) Identify someone to interview.

b) Make contact through email, a phone call, or mail to arrange the meeting.

3)Prepare for the interview

c) Choose a conservative, professional ensemble to wear

4) Conduct the informational interview

d) Encourage the interviewer to do most of the talking while you take notes

5) Follow up with your interviewer

e) Write a handwritten thank you letter to express that you want to say in touch.

6 0
4 years ago
Under what conditions would you recommend using each of these funding methods to pay for information systems expenses: allocatio
Arada [10]

Answer:

The conditions under which each funding method for paying for IT system expenses would be recommended are:

Allocation method is preferred to other methods when actual usage cannot be captured but, some other cost drivers can be used as the allocation bases.

Chargeback method works better than others when actual usage by each unit can be accurately captured.

Explanation:

The Allocation Funding Method charges IT costs to individuals, departments, or business units based on revenues, number of employees, and other cost drivers and not based on usage. It is often used when actual usage cannot be recorded.

The chargeback method charges IT costs to individuals, departments, or business units based on their actual usage of the IT services.  With wide variation in IT usage, business units need to be charged their actual costs consumed.

The corporate budget method allocates IT cost based on a periodic predetermined rate. It is used where unit managers need to be given control over their budgets, enabling them to search for cost-saving technologies.

6 0
3 years ago
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