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"2. Revenue Recognition for Software (25 points)...

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"2. Revenue Recognition for Software (25 points) a. A software vendor sold $300,000 software to a customer. The price includes the software (no addition development or modification needed), the installation of the software and a one-year technique support. If the software can be purchased at a standalone price of $250,000 with the fair values of installation and one-year technique support of $5,000 and $57,500, respectively, how should the company recognize the sales price of $300,000 upon the delivery and the completion of the installation? You need to provide the supporting documents for your answer (i.e., ASC number). Requiredment: 2 pages with 12pts doubled space",I think it is not a correct because you don't need "apple rules" or others. Only thing needs are read the reading assignment and figure out the answers. Just some decisions based on the reading assignment. Thanks,Writer, My professor wants me to read the assignment and answer that If the software can be purchased at a standalone price of $250,000 with the fair values of installation and one-year technique support of $5,000 and $57,500, respectively, how should the company recognize the sales price of $300,000 upon the delivery and the completion of the installation? You need to provide the supporting documents for your answer. Just make some calculation based on the price and explanation and answer the questions based on the assignment.,Writer, I think that that question help you understand what my answer should be. A software vendor sold $300,000 software to a customer. The price includes the software (no addition development or modification needed), the installation of the software and a one-year technical support. If the software can be purchased at a standalone price of $250,000 with the fair values of installation and one-year technical support of $5,000 and $57,500, respectively, how should the company recognize the sales price of $300,000 upon the delivery and the completion of the installation assuming that all conditions in ASC985-605-25-3 are met? You need to provide the supporting documents for your answer,Writer, Answer should be based on the software. Don't need anything about roads, bridges, or apples rules. However, the assignment was due already. Anyway, thanks,Writer, You dont need to rework on the assignment because it was already due.,BTW, you may already have an answer to this in your archives. Here are a couple of related links: http://www.coursehero.com/tutors-problems/Accounting/7040258-Case-09-1-Velocity-Cellular-In-conjunction-with-quarterly-review-pro/ http://www.coursehero.com/tutors-problems/Accounting/8065280-2-Revenue-Recognition-for-Software-25-points-a-A-software-vendor/

 

Paper#2074 | Written in 18-Jul-2015

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