Calculation of current and ending year deferred revenue

Assignment Help Accounting Basics

Reference no: EM132379354

Assignment -

Instructions - Prepare a SEPARATE WORKSHEET, building off the US GAAP revenue recognition calculation worksheet for advanced payments that will be provided to you, that reflects the amount of revenue that should be recognized and deferred for tax purposes for 2017 and 2018. Once you have created the correct formula to calculate the ending deferred revenue for 2017 and 2018, lock all cells that are formula driven and do not allow any editing to be performed in these cells.

Tax Objectives: Exhibit the ability to interpret the income recognition rules under IRC 451 and Rev. Proc. 2004-34 as they apply to advanced payments.

Excel skills to be utilized:

Naming of cells
Create formulas
Locking of individual cells

Calculation of current and ending year deferred revenue for 2017 and 2018

Proper syntax

Application of cell locking.

Attachment:- Assignment File - Deferred Revenue.rar

Reference no: EM132379354

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