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please answer carefully. i saw some solution here, but they were wrong. Interpreting Revenue Recognition Disclosure for Multi-channel Retailer Amazon.com reports the following in footnotes to its 2018 financial statements. We serve consumers through our online and physical stores and focus on selection, price, and convenience. We design our stores to enable hundreds of millions of unique products to be sold by us and by third parties across dozens of product categories. Customers access our offerings through our websites, mobile apps, Alexa, and physically visiting our stores. We also manufacture and sell electronic devices, including Kindle e-readers, Fire tablets, Fire TVs, and Echo devices, and we develop and produce media content. In addition, we offer Amazon Prime, a membership program that includes unlimited free shipping on over 100 million items, access to unlimited streaming of thousands of movies and TV episodes, and other benefits. For each of the following revenue streams, list the nature of the performance obligation and when Amazon would recognize revenue for that performance obligation. a. Online sale of merchandise owned by Amazon b. Online sale of merchandise owned by third parties c. Sale of a Kindle e-reader d. Collecting cash for an Amazon Prime membership e. Sale of media content such as a movie available for download Performance Obligation Deliver good(s) to customer Provide specified service + ● + + When Revenue is Recognized

please answer carefully. i saw some solution here, but they were wrong. Interpreting Revenue Recognition Disclosure for Multi-channel Retailer Amazon.com reports the following in footnotes to its 2018 financial statements. We serve consumers through our online and physical stores and focus on selection, price, and convenience. We design our stores to enable hundreds of millions of unique products to be sold by us and by third parties across dozens of product categories. Customers access our offerings through our websites, mobile apps, Alexa, and physically visiting our stores. We also manufacture and sell electronic devices, including Kindle e-readers, Fire tablets, Fire TVs, and Echo devices, and we develop and produce media content. In addition, we offer Amazon Prime, a membership program that includes unlimited free shipping on over 100 million items, access to unlimited streaming of thousands of movies and TV episodes, and other benefits. For each of the following revenue streams, list the nature of the performance obligation and when Amazon would recognize revenue for that performance obligation. a. Online sale of merchandise owned by Amazon b. Online sale of merchandise owned by third parties c. Sale of a Kindle e-reader d. Collecting cash for an Amazon Prime membership e. Sale of media content such as a movie available for download Performance Obligation Deliver good(s) to customer Provide specified service + ● + + When Revenue is Recognized

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter5: Sales And Receivables
Section: Chapter Questions
Problem 89.2C
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please answer carefully. i saw some solution here, but they were wrong. Interpreting Revenue Recognition Disclosure for Multi-channel Retailer Amazon.com reports the following in footnotes to its 2018 financial statements. We serve consumers through our online and physical stores and focus on selection, price, and convenience. We design our stores to enable hundreds of millions of unique products to be sold by us and by third parties across dozens of product categories. Customers access our offerings through our websites, mobile apps, Alexa, and physically visiting our stores. We also manufacture and sell electronic devices, including Kindle e-readers, Fire tablets, Fire TVs, and Echo devices, and we develop and produce media content. In addition, we offer Amazon Prime, a membership program that includes unlimited free shipping on over 100 million items, access to unlimited streaming of thousands of movies and TV episodes, and other benefits. For each of the following revenue streams, list the nature of the performance obligation and when Amazon would recognize revenue for that performance obligation. a. Online sale of merchandise owned by Amazon b. Online sale of merchandise owned by third parties c. Sale of a Kindle e-reader d. Collecting cash for an Amazon Prime membership e. Sale of media content such as a movie available for download Performance Obligation Deliver good(s) to customer Provide specified service c + + ♦ → When Revenue is Recognized → = C
Transcribed Image Text:please answer carefully. i saw some solution here, but they were wrong. Interpreting Revenue Recognition Disclosure for Multi-channel Retailer Amazon.com reports the following in footnotes to its 2018 financial statements. We serve consumers through our online and physical stores and focus on selection, price, and convenience. We design our stores to enable hundreds of millions of unique products to be sold by us and by third parties across dozens of product categories. Customers access our offerings through our websites, mobile apps, Alexa, and physically visiting our stores. We also manufacture and sell electronic devices, including Kindle e-readers, Fire tablets, Fire TVs, and Echo devices, and we develop and produce media content. In addition, we offer Amazon Prime, a membership program that includes unlimited free shipping on over 100 million items, access to unlimited streaming of thousands of movies and TV episodes, and other benefits. For each of the following revenue streams, list the nature of the performance obligation and when Amazon would recognize revenue for that performance obligation. a. Online sale of merchandise owned by Amazon b. Online sale of merchandise owned by third parties c. Sale of a Kindle e-reader d. Collecting cash for an Amazon Prime membership e. Sale of media content such as a movie available for download Performance Obligation Deliver good(s) to customer Provide specified service c + + ♦ → When Revenue is Recognized → = C
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