subject
Business, 29.03.2021 19:10 jay1462

Sanjeev enters into a contract offering variable consideration. The contract pays him $1,400/month for six months of continuous consulting services. In addition, there is a 60% chance the contract will pay an additional $2,400 and a 40% chance the contract will pay an additional $3,400, depending on the outcome of the consulting contract. Sanjeev concludes that this contract qualifies for revenue recognition over time. Assume that Sanjeev estimates variable consideration as the most likely amount. After Sanjeev has recognized revenue for two months of the contract, he changes his assessment of the chance the contract will pay him $3,400 to 70%. What adjustment to revenue should Sanjeev recognize to account for that change in estimate

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 20:50
Tyler has coffee with one of his direct reports almost daily. he does this to inquire in an informal way about progress on the job, and to provide coaching and support, as well as appropriate congratulations for special efforts. tyler is exhibiting which type of managerial skill?
Answers: 1
question
Business, 22.06.2019 07:50
The questions of economics address which of the following ? check all that apply
Answers: 3
question
Business, 22.06.2019 08:00
How do communism and socialism differ in terms of the role that government plays in the economy ?
Answers: 1
question
Business, 22.06.2019 14:30
The state in which the manufacturing company you work for is located regulates the presence of a particular substance in the environment to concentrations ≤ x. recently-released, reliable research endorsed by the responsible federal agency conclusively demonstrates that the substance poses no risks at concentrations up to 5x. your company has asked you to consider designing a new process with a waste discharge stream containing up to 2x of the substance. based on the stated conditions, describe this possible.
Answers: 2
You know the right answer?
Sanjeev enters into a contract offering variable consideration. The contract pays him $1,400/month f...
Questions
question
Engineering, 19.03.2020 23:29
Questions on the website: 13722359