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According to the revenue recognition principle, revenues should be recognized when or as the company performs acts promised to the customer. For many businesses, this
According to the revenue recognition principle, revenues should be recognized when or as the company performs acts promised to the customer. For many businesses, this condition is met at the point of delivery of goods or services. The following transactions occurred in September:
Required:
For each of the transactions, if revenue is to be recognized in September, indicate the amount.
tableActivityAmounttablea A customer paid for and downloaded song files from Apple's iTunes store for $cash Answer from Apple's standpoint.tableb Best Flooring provided a carpet installation for $ cash. A comparableinstallation from other companies costs $tablec Span Cable is scheduled to install digital cable at Austin area homes nextweek The installation charge is $ per home. The terms require payment within days of installation. Answer from Span Cable's standpoint.tabled Span Cable completed the installations described in c Answer from SpanCables standpoint.tablee Span Cable received payment from customers for the installations described in cAnswer from Span Cable's standpoint.tablef A customer purchased a ticket from QuickAir in September for $in December. Answer from to travelWhich of the following statements is true regarding identity documents before the Civil War?
a A seamans protection certificate guaranteed the holder safety anywhere in the country.
b Only a valid passport could verify ones US citizenship.
c Slave passes provided some protection from slave patrols.
d Free persons of color were refused identity documents in all states.
e Only the federal government issued citizenship documents before
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