The drop down options are: 1 to 5, (1 and 5), (2 and 5), (2 and 3), (3 and 5), (4 and 5) do you know the answers for questions a to e?

The Circumstances are:

a.	An apartment owner receives a deposit of $1200 equal to one month's rent.
b.	An insurance company receives annual premiums for fire insurance on June 25 for coverage beginning July 1.
c.	A city transit authority issues 200,000 monthly passes at $80 each for sale at various retailers. Retailers act as consignees for these passes.
d.	A city transit authority sells 50,000 monthly passes at $80 each to transit riders at its own retail offices/stores.
e.	A provincial lottery corporation delivers 10 million scratch-and-win cards to retailers. The cards retail for $2 and generate a commission of $0.20 per card for the retailer. The retailer can return unsold cards to the lottery corporation.

For each of the preceding circumstances, identify which revenue recognition criterion criteria is/are NOT met at the point of sale, preventing the recognition of revenue at that time (Italics identify the entity for which you are accounting) Revenue recognition criteria not met Circumstances Revenue recognition criteria a b. a d 5 b. e 1 Identify the contract with the customer 2 Identify the performance obligations 3 Determine the transaction price 4 Allocate the transaction price to performance obligations 5 Recognize revenue in accordance with performance 1 2 An apartment owner receives a deposit of S1200 equal to one month's rent An insurance company receives annual premiums for fire insurance on June 25 for coverage beginning July 1 A city transit authority issues 200,000 monthly passes at $80 each for sale at various retailers. Retailers act as consignees for these passes A city transit authority sells 50,000 monthly passes at $80 each to transit riders at its own retail offices/s s/stores A provincial lottery corporation delivers 10 million scratch-and-win cards to retailers. The cards retail for $2 and generate a commission of $0,20 per card for the retailer The retailer can return unsold cards to the lottery corporation 3 d Print Done 4 5 1. and 5 2. and 5 2 and 3 3. and 5 4 and 5 Choo (Ans Print Done