On June 1, 2016, Emmet Property Management entered into a 2-year contract to oversee leasing and maintenance for an apartment building. The contract starts on July 1, 2016. Under the terms of the contract, Emmet will be pad a fixed fee of $50,000 per year and will receive an additional 15% of the fixed fee at the end of each year provided that building occupancy exceeds 90% Emmet estimates a 30% chance it will exceed the occupancy threshold, and concludes the revenue recognition over time is appropriate for this contract. Assume Emmet estimates variable consideration as the expected value. How much revenue should Emmet recognize on this contract in 2016? A. $25,000 B. $26, 125 C. $28, 750 D. $50,000 Juliana Corporation purchased all of the outstanding stock of Caldwell Inc., paying $2, 700,000 cash. Book values and fair values of acquired assets and liabilities were: Juliana would record goodwill of: A. $1, 180,000. B. $600,000. C. $880,000. D. $100,000. Grab Manufacturing Co. purchased a 10-ton draw press at a cost of $180,000 with Payment was made within the discount period. Shipping costs were $4, 600, which included $200 for insurance by Grab). Installation costs totaled $12,000. which included $4,000 for taking out a section of a wall and rebuilding it because the press was too large for the doorway. The capitalized cost of the 10-ton draw press is: A. $171,000. B. $183, 600. C. $187, 600. D. $185, 760