Please help me with my case study. I've written 10 questions under the case. Please feel free to deduct alloted questions. Badly need it.

Your course unfortunately doesnt give me the answer to a great many real-life problems, said Joan Holtz to an accounting professor. Ive read the text and listened to you attentively, but every once in a while I run across something that doesnt seem to fit the rules. Not all of lifes complications can be covered in a first course, the professor replied. As is the case with law, medicine, or indeed any of the professions, many matters are dealt with in advanced courses, and others are not settled in any classroom. Nevertheless, some problems that are not specifically discussed can be solved satisfactorily by relating them to principles that you already have learned. Lets take revenue recognition as a particularly difficult case in point. If you will write down some of the matters about which you are now uncomfortable, Id be glad to discuss them with youthat is, after you have given some thought as to the most reasonable solution. A week later, Holtz returned with the list given below

1. Electric utility bills. When an electric utility customer uses electricity, the electric company has earned revenues. It is obviously impossible, however, for the company to read all of its customers meters on the evening of December 31. How does the electric company know its revenue for a given year? Explain.

2. Retainer fee. A law firm received a retainer of $10,000 on July 1, 2010, from a client. In return, it agreed to furnish general legal advice upon request for one year. In addition, the client would be billed for regular legal services such as representation in litigation. There was no way of knowing how often, or when, the client would request advice, and it was quite possible that no such advice would be requested. How much of the $10,000 should be counted as revenue in 2010? Why?

3. Cruise. Raymonds, a travel agency, chartered a cruise ship for two weeks beginning January 23, 2011, for $200,000. In return, the ships owner agreed to pay all costs of the cruise. In 2010, Raymonds sold all available space on the ship for $260,000. It incurred $40,000 in selling and other costs in doing so. All the $260,000 was received in cash from passengers in 2011. Raymonds paid $50,000 as an advance payment to the ship owner in 2011. How much, if any, of the $260,000 was revenue to Raymonds in 2010? Why? Does the question of whether passengers were entitled to a refund in 2011 if they canceled their reservations make any difference in the answer? Why?

4. Accretion. A nursery owner had one plot of land containing Christmas trees that were four years old on November 1, 2010. The owner had incurred costs of $3 per tree up to that time. A wholesaler offered to buy the trees for $4 each and to pay in addition all costs of cutting and bundling, and transporting them to market. The nursery owner declined this offer, deciding that it would be more profitable to let the trees grow for one more year. Only a trivial amount of additional cost would be involved. The price of Christmas trees varies with their height. Should the nursery owner recognize any revenue from these trees in 2010? Why?

5. Unbilled receivables. The balance sheet of an architectural firm shows a significant asset labeled Unbilled Receivables. The firm says this represents in-process projects, valued at the rates at which the customers will be charged for the architects time. Why would a firm do this instead of valuing projects in process at their cost, the same as a manufacturing firm would value its inprocess inventory? Does it make any difference in the reported owners equity for the architectural firm to report such in-process work as receivables rather than as inventory? Why?

6. Premium coupons. A manufacturer of coffee enclosed a premium coupon with each $2.50 (at wholesale) jar of coffee that it sold to retailers. Customers could use this coupon to apply to $0.50 of the price of a new type of instant tea that the manufacturer was introducing and that sold for $2.00 wholesale. The manufacturer reimbursed retail stores $0.60 for each such coupon they submitted. (The extra $0.10 was to pay the grocer for coupon handling costs.) Past experience with similar premium offers indicated that approximately 20 percent of such coupons are eventually redeemed. At the end of 2010, however, only about 10 percent of the coupons issued in 2010 had been redeemed. In recording the revenues for the company for 2010, what allowance, if any, should be made for these coupons? Why? If an allowance should be made, should it apply to the sales revenue of coffee or to the sales revenue of tea? Why?

7. Travelers checks. A bank sells a customer $500 of American Express travelers checks, for which the bank collects from the customer $505. (The bank charges a 1 percent fee for this service.) How does the bank record this transaction? How does the transaction affect American Expresss balance sheet?

8. Product repurchase agreement. In December 2010, Manufacturer A sold merchandise to Wholesaler B. B used this inventory as collateral for a bank loan of $100,000 and sent the $100,000 to A. Manufacturer A agreed to repurchase the goods on or before July 1, 2010, for $112,000, the difference representing interest on the loan and compensation for Bs services. Does Manufacturer A have revenue in 2010? Why?

9. Franchises. A national real estate brokerage firm has become highly successful by selling franchises to local real estate brokers. It charges $10,000 for the initial franchise fee and a service fee of 6 percent of the brokers revenue thereafter. For this it permits use of its well-known name and provides a one-week initial training course, a nationwide referral system, and various marketing and management aids. Currently, the franchise fee accounts for 25 percent of the national firms receipts, but it expects that the United States market will be saturated within the next three years, and thereafter the firm will have to depend on the service fee and new sources of revenue that it may develop. Should it recognize the $10,000 as revenue in the year in which the franchise agreement is signed? Why? If it does, what will happen to its profits after the market has become saturated? Why?

10. Computer systems. In early 2010, the sales vice president of Tech-Logic reached agreement to deliver several computer systems with a total price of $570,000 to an organization in one of the newly independent countries established following the dissolution of the former Soviet Union. TechLogic management was very excited about this contract. The countries that were part of the former Soviet Union represented a major market that was just opening up for trade, and these countries especially needed the kinds of high-technology products that Tech-Logic sold. Tech-Logic manufactured and shipped the entire $570,000 order during 2010. Tech-Logic normally recognized revenue on the sale of its products when they were shipped. However, Tech-Logics controller wondered whether the same revenue recognition policy should apply to this contract. First, contract law in these countries was evolving and it was hard to know if certain laws existed or what they were. In addition, the controller was uncertain when Tech-Logic would receive the $570,000 in cash. He had heard that in many of these countries it was difficult to obtain currencies needed for foreign exchange, although the customer kept assuring Tech-Logic that they would receive cash shortly. The controller pondered whether to recognize the entire $570,000 as revenue in 2010. If not, then when should this revenue be recognized? Why?

Answer the questions raised by Holtz in each of the 10 issues on her list