User Account

All Pages

How much revenue will sparky recognize in 2016

Assignment Help Accounting Basics
Reference no: EM131299800

Question 1. Sparky Associates sells two licenses to Kim & Company on September 1, 2016. First, in exchange for $100,000, Sparky provides Kim with a copy of its proprietary investment management software, which Sparky does not anticipate updating and which Kim can use permanently. Second, in exchange for $90,000, Sparky provides Kim with a three-year right to market Kim's financial advisory services under the name of Sparky Associates, which Sparky advertises on an ongoing basis. How much revenue will Sparky recognize in 2016 under this arrangement?

Question 2. The following data relates to a construction job started by Sparky Company during 2016:

Assuming that Sparky recognizes revenue over time according to percentage of completion, how much should Sparky recognize as gross profit for 2016?

$0

$13,333

$33,333

$26,667

Question 3. Video Planet (VP) sells a big screen TV package consisting of a 60-inch HDTV, a universal remote, and on-site installation by VP staff. The installation includes programming the remote to have the TV interface with other parts of the customer's home entertainment system. VP concludes that the TV, remote, and installation service are separate performance obligations. VP sells the 60-inch TV separately for $1,700, sells the remote separately for $100, and offers the installation service separately for $200. The entire package sells for $1,900.

Determine how much revenue should be allocated to each of the following components:

TV $ 
Remote $
Installation Service $

Reference no: EM131299800

Questions Cloud

Implement a variety of policy settings : Group policy is one of the most useful features of Windows server and can be used to implement a variety of policy settings for our resources. However, to use it effectively, we need to understand its capabilities. Let's define group policy and id..
What is the journal entry to record these fees : Prepare the acquisition journal entry for ABC Corporation assuming it acquired all of ZYX's common stock for $158,000 - Assume that ABC Corporation incurred $25,000 in legal fees related to the acquisition. What is the journal entry to record these ..
What is the market value of equity or market capitalization : What is the market value of equity, or market capitalization? How many shares of stock does Hewlett-Packard have outstanding? What is the most recent annual dividend? What is the beta for Hewlett- Packard?
Trends of customer relationship management : What are the trends of customer relationship management? List and briefly discuss the main three category of e-commerce application?What are the essential processes of e-commerce?
How much revenue will sparky recognize in 2016 : Determine how much revenue should be allocated to each of the components - which Sparky advertises on an ongoing basis. How much revenue will Sparky recognize in 2016 under this arrangement?
Describe how does data leakage occur in an organization : How does data leakage occur in an organization? What are the common causes of this problem? How would use address this troublesome trend? Use your textbook, internet, and other publications to research this topic.
Advantage when the target is throughput and security : Consider a dedicated firewall device. What is its major advantage when the target is throughput and security?
Discuss your views on the ethics of uncle charlie''s actions : Looking at Nancy and Al's experience, what lessons about retirement planning can be learned?
Environment creation in skytap using virtualbox : Environment Creation in Skytap Using VirtualBox. After completion of importing, select the VM and click Start. Let the virtual machine boot up.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd