Question On July 1.2020 Super Duper Cleaners (SDC) entered into an 18 month contract whereby it provides et clean up services for a dog park SDC hires collese students to complete the clean up a messy but we paying job. The contract species that the owner of the dog park will pay scale of $25.000 every months starting on July 1. 2020 with the last payment of 512 500 only covering the final two months of the contract. SDC records these payments as deferred revenue and adjusts for the amount earned at year end. At the end of the contract I SOC has received fewer than 6 total reports of a dog bark human er stepping in dows droppings, the owner of the dog park will pay SOC an additional $9.000. Because SDC has been able to hire ICU students to start the entire crew, and knowing what hard working and diligent workers the JCU students typically are. SDC believes it is highly likely that it will receive the additional $9.000 at the end of the contract period, How much revenue should SDC recognize on this contract in 2020 assuming it had received no reports of human/dog dropping contacts? What would be reported on SDC's December 31, 2020 balance sheet for this contract (The first answer space on each line should include an account title, the second answer space on each line should include an amount? Canvas Assumin SDC Successfully stays below reports of human/dog dropping interactions throughout the contract period how much event will SOC recognize when it receives the bon payment on January 5.20221 Assume instead, that in the spring of 2021 the weather was so bad that the ICU students were unable to deliver the usual high quality work for which they are known. As a result, SOC learned that the dog park owner had received 10 reports of human/doggy dropping incidents. How much revenue will SDC recognize on this contract on December 31, 2021 assuming no revenue had yet been recognized on this contract in 2021 Question On July 1.2020 Super Duper Cleaners (SDC) entered into an 18 month contract whereby it provides et clean up services for a dog park SDC hires collese students to complete the clean up a messy but we paying job. The contract species that the owner of the dog park will pay scale of $25.000 every months starting on July 1. 2020 with the last payment of 512 500 only covering the final two months of the contract. SDC records these payments as deferred revenue and adjusts for the amount earned at year end. At the end of the contract I SOC has received fewer than 6 total reports of a dog bark human er stepping in dows droppings, the owner of the dog park will pay SOC an additional $9.000. Because SDC has been able to hire ICU students to start the entire crew, and knowing what hard working and diligent workers the JCU students typically are. SDC believes it is highly likely that it will receive the additional $9.000 at the end of the contract period, How much revenue should SDC recognize on this contract in 2020 assuming it had received no reports of human/dog dropping contacts? What would be reported on SDC's December 31, 2020 balance sheet for this contract (The first answer space on each line should include an account title, the second answer space on each line should include an amount? Canvas Assumin SDC Successfully stays below reports of human/dog dropping interactions throughout the contract period how much event will SOC recognize when it receives the bon payment on January 5.20221 Assume instead, that in the spring of 2021 the weather was so bad that the ICU students were unable to deliver the usual high quality work for which they are known. As a result, SOC learned that the dog park owner had received 10 reports of human/doggy dropping incidents. How much revenue will SDC recognize on this contract on December 31, 2021 assuming no revenue had yet been recognized on this contract in 2021
