Consider the following situations and justify how much revenue should be recognised in the financial statements ended 31 December 2022 for each situation.

Situation 1: Syarikat Syawal provides software subscription services. On 1 October 2022, Syawal signed a contract with a customer for a one-year subscription worth RM12,000. The customer paid the full amount upfront.

Situation 2: Syarikat Ramadhan provides construction services. On 1 June 2022, Ramadhan signed a contract to construct a building with a client. The total contract value is RM500,000. As of 31 December 2022, Ramadhan has completed 40% of the construction work.

Situation 3: Syarikat Muharam provides consulting services. On 1 December 2022, Muharam signed a contract with a client to provide services over six months. The total contract value is RM60,000, and Muharam recognises revenue evenly over the contract period.( Total / Jumlah: 20 )