T Services Co. provides online technology support for consumers remotely via the Internet. For a...
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T Services Co provides online technology support for consumers remotely via the Internet. For a flat fee, it will scan a customer's personal computer PC for viruses, optimize the PCs performance, and solve any connectivity problems. When a customer calls to obtain the scan services, IT Services Co describes the services it can provide and states the price for those services. When the customer agrees to the terms stated by the representative, payment is made over the telephone. IT Services Co then provides the customer the information needed to obtain the scan services eg an access code for the website and provides the services when the customer connects to the Internet and logs onto IT Services Cos website, which may be that day but may also be at a future point in time. Required: aList the criteria for determining if there is a contract with a customer and determine if there is a contract in this scenario.bIf so when is revenue recognized?
T Services Co provides online technology support for consumers remotely via the Internet. For a flat fee, it will scan a customer's personal computer PC for viruses, optimize the PCs performance, and solve any connectivity problems. When a customer calls to obtain the scan services, IT Services Co describes the services it can provide and states the price for those services. When the customer agrees to the terms stated by the representative, payment is made over the telephone. IT Services Co then provides the customer the information needed to obtain the scan services eg an access code for the website and provides the services when the customer connects to the Internet and logs onto IT Services Cos website, which may be that day but may also be at a future point in time.
Required:
aList the criteria for determining if there is a contract with a customer and determine if there is a contract in this scenario.bIf so when is revenue recognized?
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You can see the logs in the Dashboard.