McGraw-Hill Connect 5 Question 2 p.mheducation.com/ext/map/index.html?_con%3con&external oogleDOCS Next Next: BM Wor.. 3 Project i For each of the following separate situations, determi accounting). a. On December 7, Oklahoma City Thunder sold a $12 b. Tesla sold and delivered a $92,000 car on Deceml c. Deloitte signs a contract on December 1 to provide contract. On December 31, 75% of the services hav Situations Revenue re a. Sale of a ticket to a basketball game b. Sale of a car on credit c. Contract to provide advisory services

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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McGraw-Hill Connect
5Question 2- Learning Unit 3 Proj X
CA 2019 CHO7 Project01 Exam x
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Next Next: BM Wor.
3 Project i
es
For each of the following separate situations, determine how much revenue is recognized in December (using accrual basis
accounting).
a. On December 7, Oklahoma City Thunder sold a $124 ticket to a basketball game to be played in March.
b. Tesla sold and delivered a $92,000 car on December 25. The customer will not pay until February.
c. Deloitte signs a contract on December 1 to provide 40 days of advisory services with receipt of $44,000 due at the end of the
contract. On December 31, 75% of the services have been completed.
Situations
Revenue recognized
a. Sale of a ticket to a basketball game
b. Sale of a car on credit
c. Contract to provide advisory services
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Transcribed Image Text:%23 McGraw-Hill Connect 5Question 2- Learning Unit 3 Proj X CA 2019 CHO7 Project01 Exam x p.mheducation.com/ext/map/index.html?_con3con&external_browser%-D0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddl pogleDOCS Next Next: BM Wor. 3 Project i es For each of the following separate situations, determine how much revenue is recognized in December (using accrual basis accounting). a. On December 7, Oklahoma City Thunder sold a $124 ticket to a basketball game to be played in March. b. Tesla sold and delivered a $92,000 car on December 25. The customer will not pay until February. c. Deloitte signs a contract on December 1 to provide 40 days of advisory services with receipt of $44,000 due at the end of the contract. On December 31, 75% of the services have been completed. Situations Revenue recognized a. Sale of a ticket to a basketball game b. Sale of a car on credit c. Contract to provide advisory services < Prev 2 of 20 Next > SAMSUNG YA %24 V % 3.
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