Question
1) Company A sold a package including Machine A, Machine B, and 10 days of training for a total price of $500,000. The individual selling
1) Company A sold a package including Machine A, Machine B, and 10 days of training for a total price of $500,000. The individual selling price for each deliverable in the package: Machine A: $300,000 Machine B: $200,000 Training: $100,000 Discuss the revenue recognition for the package (i.e. including timing and amount).
2) When a company is reporting as a principal, it should report _____ revenue. When a company is reporting as an agent, it should report _____ revenue. Provide one of the indicators for Gross Reporting.
3) A department store offers a $10 gift card with the purchase of $100 merchandise. At what point the store fully completes its earning process?
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