Presented below are three revenue recognition situations. (a) Groupo sells goods to MTN for $901,000, payment due at delivery. (b) Groupo sells goods on account to Grifols for $879,000, payment due in 30 days. (c) Groupo sells goods to Magnus for $480,000, payment due in two installments, the first installment payable in 18 months and the second payment due 6 months later. The present value of the future payments is $443,000. Indicate the transaction price for each of these situations and when revenue will be recognized.

Groupo

Transaction Price                 When Revenue should be recognized

a. $901,000                          the delivery date

b. $879,000                          the sales date

c. $443,000                          the sales date

c. $37,000                            in the period interest is earned.

Explanation:

1) Data and Analysis:

a. Delivery date: Cash $901,000 Sales Revenue (MTN) $901,000

b. Sales date: Accounts receivable (Grifols) $879,000 Sales Revenue $879,000

c. Sales date: Accounts receivable (Magnus) $480,000 Sales Revenue $443,000 Deferred Interest Revenue $37,000

2) According to the IFRS 15 and ASC 606, Revenue from Contracts with Customers, revenue should be recognized when performance obligations have been met.

sound is invisible, but sometimes we can feel it. when a kettle-drum is thumped with a stick that time the tight drum skin moving up and down very quickly for some time and then it pumped sound waves into the air. loudspeakers also work in a similar manner.

components of a speaker:

electromagnet

in order to translate an electrical signal into an audible sound, an electromagnet is used in looudspeakers

  suspension

suspension is used to   center the voice coil in the gap of the magnet and it exerts a restoring force to keep it there. suspension is used to limits the maximum mechanical excursion of the diaphragm and voice coil.

voice coil

voice coil is a coil of wire which is attached to the apex of a loudspeaker cone. it provides the motive force to the cone by the reaction of a magnetic field to the current passing through it.

cone

in a   loudspeaker, a   thin, semi-rigid membrane attached to the voice coil, which moves in a magnetic gap due to which it vibrates   and produced sound. it is known as diaphragm and it can also be called a cone, though not all speaker diaphragms are cone-shaped.

surround

surround is also known as front suspension. surround is used to join the cone to the chassis. together with the suspension it controls the cone excursion, and it is also used to   determine how energy which is   travelling through the cone is absorbed, and how the speaker limits when it reaches the ends of its travel.

dustcap

dustcap is used to protect the voice coil from dust and dirt. it is a part of the cone.

how speaker work

the outer part of the cone is fastened to the outer part of the loudspeaker's circular metal rim. the inner part is fixed to   voice coil that sits just in front of a permanent magnet . when loudspeaker is hooked up to a stereo, electrical signals feed through the speaker cables into the coil. it will convert the coil into an electromagnet magnet . when electricity flows back and forth in the cables, the electromagnet either repels or attract the permanent magnet. this moves the coil back and forth, and it pull and push the loudspeaker cone. like a drum skin vibrating back and forth, the moving cone pumps sounds out into the air.in this way loudspeakers works.

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number