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A company sells services and in October enters a 20x1 contract with YR ASA for the delivery of up to 1000 hours of consulting services
A company sells services and in October enters a 20x1 contract with YR ASA for the delivery of up to 1000 hours of consulting services until June 20x2. The company invoices NOK 2000 copies. VAT. per hour. As of 31.12.x1, the company has delivered 500 hours to YR AS, which has paid for 100 of these. a) What can the company recognize as income for 20x1 related to the assignment? A company sells a machine in 20x1 to a customer for NOK 2 500 000. Included in the sale is a service on the machine, and this service will be carried out in April 20x2. The company normally invoices NOK 125 000 for the service. The customer first pays for the machine in March 20x2. b) What should the company recognize as income in 20x1? A company has capitalized receivables with NOK 750 000 as of 31.12.xo. Acquisition cost for the trade receivables the company had as of 31.12.x0 was NOK 800 000. During 20x1, the company was paid NOK 10 000 related to receivables accounted for as a stated loss of 20x0. The company's book value of the receivables as of 31.12x1 was NOK 1 000 000. The acquisition cost for the receivables as of 31 December x1 was NOK 1 075 000. During the period (20x1), the company had established losses related to credit sales of NOK 40 000. c) What is to be expensed as Loss on receivables in 20x1
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