Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. maas llp developed software that helps farmers to

Maas LLP developed software that helps farmers to plow their fields in a manner that...

80.2K

Verified Solution

Question

Accounting

Maas LLP developed software that helps farmers to plow their fields in a manner that prevents erosion and maximizes the effectiveness of irrigation. Sunny Dale paid a licensing fee of $24,000 for a copy of the sortware. Although Sunny Dale can use the software as long as it wants, Maas expects that Sunny Dale will use the software for approximately 5 Years. Maas does not anticipate any further interaction with Sunny Dale following transfer of license.

How much revenue should Maas recognize in the first year of the contract?

PLEASE show your calculation, really appreciated!

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

Write about your review of available literature on the different approaches in the classification of nerve...

Civil Engineering
1.2K views

You have to write a Descriptive Paragraph on Someone you know well. the paragraph should be...

Statistics
1.2K views

A computer system administrator notices that computers running a particular operating system seem to freeze up...

Physics
1.2K views

2 3 Two vectors of equal magnitude inclined at some angle such that the difference...

Physics
1.2K views

A swimmer wishes to cross a river 500 m wide flowing at a rate u...

Calculus
1.2K views

1 point Find the general solution to y y 7y 7y 0 In your answer...

Calculus
1.2K views

sin 5 4121 0 7650 Round to four decimal places cos 5 4121 Round to...

Algebra
1.2K views

The arrows on two spinners are spun one time The first spinner is divided equally...

Accounting
1.2K views

Compare and contrast the financial statements of sole traders' and limited liability companies by: (i)...

Accounting
1.2K views

Income statement information for Einsworth Corporation follows: Sales $555,000 ...

Accounting
1.2K views

Q2: Tyler com. Began doing business with Security bank on October 1. On that date...

Finance
1.2K views

Your company is considering buying one of the two machines into product line. These two...