Please show calculations on all answers

Question a)

A company sells services and in October enters into a 20x1 contract with YR ASA for the delivery of up to 1,000 hours of consulting services until June 20x2. The company invoices NOK 2,000 per hour. As of 31.12.x1, the company has delivered 500 hours to YR AS and the customer has paid for 100 of these. What amount can the company recognize as income for 20x1?

Select one option

NOK 1,000,000

NOK 200,000

None of these options

NOK 2,000,000

Question b)

From the company varebetaling AS you have the following information for 20x2: The company's cost of goods for 2x2 is NOK 1,500,000. The inventory the company had as of 01.01.x2 had an acquisition cost of NOK 500,000 and a fair value of NOK 450,000. 31.12.20x2 is NOK 625,000, while the fair value at the same time is valued at NOK 650,000. All purchases are made on credit and as of 01.01.x2 the accounts payable was NOK 450,000 and as of 31.12x2 the accounts payable was NOK 625,000. 20x2?

Choose one option:

None of these options

NOK 1,675,000

NOK 1,500,000

NOK 1,450,000

Question c)

A Norwegian company sold 15.12.x0 services to Amazon for USD 100,000 per 30 days. At the time of sale, 1 USD was equal to 10 NOK, while 1 USD was 11 NOK per 31.12.x0, when the company receives settlement, 1 USD is equal to 10.50 NOK. What is to be capitalized as the value of the receivable as of 31.12 when the company uses NOK as the accounting currency?

Select one option

NOK 1,050,000

NOK 1,000,000

NOK 1,100,000

None of these options