e My Account Cheggcom > x .> c | ezto.mheducation.com/hm.tpx Time remaining: 1:0

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e My Account Cheggcom > x .> c | ezto.mheducation.com/hm.tpx Time remaining: 1:03:47 33, valu 5.00 polnts According to the revenue recognition principle, revenues should be recognized when they are earned, which happens when the company performs acts promised to the customer. For most businesses, this condition is met at the point of delivery of goods or services. The following transactions occurred in Required: For each of the transactions, if revenue is to be recognized in September, indicate the amount. Amount A customer paid $12 cash for 12 song files from Apples iTunes store. Answer from Appls standpoint. Home Depot provided a carpet installation for $2,700 cash. A comparable installation ies costs $3,700 from other com AT&T; is scheduled to install digital cable at 2,600 Austin area homes next week. The installation. Answer from AT&T;'s standpoint c. installation charge is $185 per home. The terms require payment within 30 days of d. AT&T; completed the installations described in (c). Answer from AT&T;'s standpoint AT&T; received payment from customers for the installations described in (c). Answer from AT&Ts; stan fA customer purchased a ticket from American Airlines in September for $515 cash to travel in December. Answer from American Airlines' standpoint O Type here to search D e 12:09 AM 6/12/2018 1

Explanation / Answer

Solution:

S. No. Activity Amount a. A customer paid $12 cash for 12 song files from Apple's itunes store. $12.00 b. Home depot provided a carpet installation for $2,700 cash. A comparable installation from other company costs $3,700. $2,700.00 c. AT&T is Scheduled to install digital cable at 2600 austin area homes next week. The installation charge is $185 per home. The terms require payment with in 30 days of installation. Answer from AT&T standpoint. $0.00 d. AT&T completed the installation described in ©. Answer from AT&T standpoint. $481,000.00 e. AT&T received payment from customer for installation described in ©. Answer from AT&T standpoint. $0.00 f. A customer purchased a ticket from american airlines in September for $515 cash to travel in december. Answer from American Airlines standpoint. $0.00

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