Assume the following scenarios.

scenario 1: during 2021, ibm provides consulting services on its mainframe computer for $10,600 on account. the customer does not pay for those services until 2022.
scenario 2: on january 1, 2021, gold's gym sells a one-year membership for $1,248 cash. normally, this type of membership would cost $1,560, but the company is offering a 20% "new year's resolution" discount.
scenario 3: during 2021, the manitowoc company provides shipbuilding services to the u. s. navy for $390,000. the u. s. navy will pay $130,000 at the end of each year for the next three years, beginning in 2021.
scenario 4: during 2021, goodyear sells tires to customers on account for $30,600. by the end of the year, collections total $26,000. at the end of 2022, it becomes apparent that the remaining $4,600 will never be collected from customers. required: for each scenario, calculate the amount of revenue to be recognized in 2021. revenue recognized in 2021

Alocal barnes and noble bookstore ordered 80 marketing books but received 60 books. what percent of the order was missing?

Samantha is interested in setting up her own accounting firm and wants to specialize in the area of accounting that has experienced the most significant growth in recent years. which area of accounting should she choose as her specialty? samantha should choose as her specialty.

For each of the following situations, indicate whether you agree or disagree with the financial reporting practice employed and state the basic assumption, component, or accounting principle that is applied (if you agree) or violated (if you disagree).wagner corporation adjusted the valuation of all assets and liabilities to reflect changes in the purchasing power of the dollar.spooner oil company changed its method of accounting for oil and gas exploration costs from successful efforts to full cost. no mention of the change was included in the financial statements. the change had a material effect on spooner's financial statements.cypress manufacturing company purchased machinery having a five-year life. the cost of the machinery is being expensed over the life of the machinery.rudeen corporation purchased equipment for $180,000 at a liquidation sale of a competitor. because the equipment was worth $230,000, rudeen valued the equipment in its subsequent balance sheet at $230,000.davis bicycle company received a large order for the sale of 1,000 bicycles at $100 each. the customer paid davis the entire amount of $100,000 on march 15. however, davis did not record any revenue until april 17, the date the bicycles were delivered to the customer.gigantic corporation purchased two small calculators at a cost of $32.00. the cost of the calculators was expensed even though they had a three-year estimated useful life.esquire company provides financial statements to external users every three years.