What is the amount of revenue sanjeev

Assignment Help Financial Accounting

Reference no: EM133560922

Question: Sanjeev enters into a contract offering variable consideration. The contract pays him $2,300/month for six months of continuous consulting services. In addition, there is a 80% chance the contract will pay an additional $4,800 and a 20% chance the contract will pay an additional $1,200, depending on the outcome of the consulting contract. Sanjeev concludes that this contract qualifies for revenue recognition over time. Assume Sanjeev estimates variable consideration as the expected value. What is the amount of revenue Sanjeev would recognize for the first month of the contract? Note: Do not round intermediate calculations. Round final answer to whole dollars.

Reference no: EM133560922

Questions Cloud

What was the initial purpose of the lre mandate : What was the initial (original) purpose of the LRE mandate and how was it to be executed in public schools when first agreed upon?

Medical and social history : Based upon Mr. Holton's medical and social history can you tell what sense will be empacted why.

How you determined your marketing communication requirements : How you determined your marketing communication requirements; your analysis of product or service, i.e. consideration of client and product/service information

How did the therapy originate : How did the therapy originate? What are the tenants? Who would benefit from the therapy? Ethical Dilemmas related to the treatment.

What is the amount of revenue sanjeev : What is the amount of revenue Sanjeev would recognize for the first month of the contract? Note: Do not round intermediate calculations

Analyze whether the imc tactics are effective and why : Analyze whether the IMC tactics are effective and why? Discuss the consistency or lack of consistency that you see between the venues. Provide recommendations

How you gathered information regarding product features : Describe the process in which you bought your laptop or any other similar item. Explain the reasons for buying the laptop or item, how you identified

Headache and seizure activities : Mrs. Diana is a 21-year- old female. Admitted 4 days ago at the stepdown unit with headache and seizure activities.

What ways might market prices not always behave rationally : why the stock price is moving as it relates to course concepts we have learned, and what ways might market prices not always "behave" rationally

User Account

All Pages