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Vsevolod [243]
3 years ago
9

On May 1, 2018, Varga Tech Services signed a $75,000 consulting contract with Shaffer Holdings. The contract requires Varga to p

rovide computer technology support services whenever requested over the period from May 1, 2018, to April 30, 2019, with Shaffer paying the entire $75,000 on May 1, 2018. How much revenue should Varga recognize in 2018? (Do not round intermediate calculation.)
Business
1 answer:
kenny6666 [7]3 years ago
7 0

Answer:

Varga should recognize $50,000 revenue in 2018.

Explanation:

Revenue = $75,000 × 8/12 months

                = $50,000

Therefore, Varga should recognize $50,000 revenue in 2018.

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