Pearson eText for Governmental and Nonprofit Accounting -- Instant Access (Pearson+)
11th Edition
ISBN: 9780137561667
Author: Robert Freeman, Craig Shoulders
Publisher: PEARSON+
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Paw Gallery and Shell Portraits both offer downloadable photographs to their customers. Paw Gallery has a collection of animal photographs that may be downloaded by its subscribers. Subscribers pay an annual fee for an access code allowing the user to download images from the site. Shell Portraits takes photographs at the customer's location. Shell emails each customer a unique code to access their photos once they are completed. The access code is active for one week after it has been delivered. Both Paw and Shell allow unlimited reproduction of their images. When should Paw and Shell recognize revenue for these image sales?
Paw Gallery
Shell Portraits
A.
At access code delivery
At access code delivery
B.
At access code delivery
Over access duration
C.
Over access duration
At access code delivery
D.
Over access duration
Over access duration
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- Accounting questionarrow_forwardKindly help me with accounting questionsarrow_forwardA company owns a machine with a $10,000 carrying value, $5,000 estimated salvage value, and $90,000 fair value. The machine was irreparably damaged by a customer and, as a result, was deemed worthless. A court awarded damages of $90,000 in favor of the company. At the current year end, the outcome of this case was awaiting appeal and was, therefore, uncertain. However, the company's legal counsel believes the appeal will be denied. What amount of gain, if any, should the company report for this lawsuit in its current-year financial statements? A. $0 B. $75,000 C. $80,000 D. $90,000arrow_forward
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