Reference no: EM133180489
Question - JKL Inc. signed a contract on October 1, 2021 worth P1,600,000 with the following performance obligations stipulated:
Provision of right to access the intellectual property for 5 years.
Construction and renovation of the premises of the franchisee.
Delivery of 400,000 units of products.
By the end of the year, construction and renovation of the premises were 30% incomplete and a total of 312,000 units were undelivered. The standalone selling prices for the rights to access the license, renovation of the premises, and delivery of the goods are P700,000, P875,000, and P175,000 respectively.
Required -
1. Compute the revenue earned by JKL Inc from this contract for the year ended December 31, 2021.
2. Compute the unearned revenue earned by JKL Inc from this contract for the year ended December 31, 2021.
|
Compute marcia qbi deduction
: Marcia, a single individual, has qualified trade or business income of $240,000. Compute Marcia's QBI deduction, assuming her overall taxable income
|
|
Discuss the types of planning
: Discuss the types of planning that you would undertake to support the communication and implementation of diversity into your organisation's everyday practices
|
|
How do the business risks such as credit risk
: You are part of a team at Joyful Audits, a medium sized audit firm located in Australia, How do the business risks such as credit risk
|
|
Turnover of trade exchanged unfamiliar trade prospects
: Turnover of trade exchanged unfamiliar trade prospects and choices was ?lling quickly in 2004-2013, coming to $145 billion in April 2013 [twofold the turnover r
|
|
Compute the revenue earned by jkl inc from this contract
: Provision of right to access the intellectual property for 5 years. Compute the revenue earned by JKL Inc from this contract for the year ended December 31 2021
|
|
Standard employment relationship and precarious work
: Last February, a group of Instacart employees who worked as in-store shoppers at a Mariano's grocery store in Skokie, Illinois, voted to unionize in a historic
|
|
Supervisors hired their own employees without communication
: All branch supervisors hired their own employees without communication with the home office or other branches.
|
|
Symptoms of physical-emotional and sexual abuse
: As an Education Support worker you must be able to identify when a student is in a potentially abusive situation and act appropriately within school policies an
|
|
Prepare end-of-year financial statements for partnerships
: From information given in Part A, prepare end-of-year financial statements for partnerships incorporating appropriate adjustments
|