A seller sells a Play Station Portable (PSP) game-box, a gaming console that allows users to play video games individually or in multiplayer environment over the internet. a) PSP game-box includes the physical PSP game-box module as well as a oneyear subscription to Video Games Center of internet-based games and other applications. b) The seller sells individual one-year subscription to Video Games Center for P500. c) The seller sells individual PSP game-box modules for P7,500. d) As a package deal, the seller sells PSP game-box (module plus subscription) for P8,000 On February 1, 2021, the seller delivers 200 PSP game-box to a customer at a price of P8,000 per system. The seller received P1,600,000 on February 25, 2021. Determine the amount of revenue on February 1, 2021

A seller sells a Play Station Portable (PSP) game-box, a gaming console that allows users to play video games individually or in multiplayer environment over the internet. a) PSP game-box includes the physical PSP game-box module as well as a oneyear subscription to Video Games Center of internet-based games and other applications. b) The seller sells individual one-year subscription to Video Games Center for P500. c) The seller sells individual PSP game-box modules for P7,500. d) As a package deal, the seller sells PSP game-box (module plus subscription) for P8,000 On February 1, 2021, the seller delivers 200 PSP game-box to a customer at a price of P8,000 per system. The seller received P1,600,000 on February 25, 2021. Determine the amount of revenue on February 1, 2021

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter17: Advanced Issues In Revenue Recognition

Section: Chapter Questions

Problem 15RE: GameDay sells recreational vehicles along with secure parking storage to customers. Game Day sells...

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