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What is total amount of revenue cure all ltd can recognise

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Reference no: EM133000555

In 2020, to help with their testing Cue All Ltd entered into contracts with 2 major hospitals to further test government approved medications. The contract benefits allowed Cure All Ltd to undertake observation and general medical update training of staff and testing for all patients for medication outcomes.

  • The contracts totalled $1,000,000 of revenue for Cure All Ltd. The amount was made up of providing equipment to the value of $400,000, medications would usually be sold for $850,000 but were provided at a discounted price of $510,000 and training of hospital staff $90,000. Equipment was to be provided at the start of the contract, training and medications were to be provided evenly each month over the two year period.

Problem 1: What is the total amount of revenue Cure All Ltd can recognise at the end of the first SIX months of the contract?

a.$250,000
b.$400,000
c.$527,500
d.$550,000

Reference no: EM133000555

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