Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On 1st July 2023, LizardCom Co provides a bundled-service package to E. Aardvark for $1200 upfront. The service package includes: Upfront advice . Database access

On 1st July 2023, LizardCom Co provides a bundled-service package to E. Aardvark for $1200 upfront. The service package includes: Upfront advice . Database access for a 1-year period If each service was sold separately to E. Aardvark the fees would be: Up-front advice Database access 00 Using the relative fair value approach, the amount of revenue recognised by LizardCom in relation to the database access over the financial year ended 30th June 2024 is (rounded to the nearest whole dollar): 600 720 900 $600 800 $900
image text in transcribed
On 1st July 2023 , LizardCom Co provides a bundled-service package to E. Aardvark for $1200 upfront. The service package includes: - Upfront advice - Database access for a 1-year period If each service was sold separately to E. Aardvark the fees would be: Using the relative fair value approach, the amount of revenue recognised by LizardCom in relation to the database access over the financial year ended 30th June 2024 is (rounded to the nearest whole dollar): 600 720 900 800

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Global Financial Accounting And Reporting Principles And Analysis

Authors: Peter Walton, Walter Aerts

1st Edition

1844802655, 9781844802654

More Books

Students also viewed these Accounting questions

Question

=+What is the EVPI?

Answered: 1 week ago

Question

=+2. Who is the audience?

Answered: 1 week ago