Please help me find the deferred revenue and license revenue.
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Tran Technologies licenses its functional intellectual property to Lyon Industries
Tran Technologies licenses its functional intellectual property to Lyon Industries. Terms of the arrangement require Lyon to pay Tran $630,000 on April 1, 2021, when Lyon first obtains access to Tran’s intellectual property, and then in the future to pay Tran a royalty of 3% of future sales of products that utilize that intellectual property. Tran anticipates receiving sales-based royalties of $1,130,000 during 2021 and $1,630,000/year for the years 2022–2026. Assume Tran accounts for the Lyon license as a right...
Tran Technologies licenses its functional intellectual property to Lyon Industries. Terms of the arrangement require Lyon to pay Tran $610,000 on April 1, 2018, when Lyon first obtains access to Tran’s intellectual property, and then to pay Tran a royalty of 5% of future sales of products that utilize that intellectual property. Tran anticipates receiving sales-based royalties of $1,110,000 during 2018 and $1,610,000/year for the years 2019–2021. Assume Tran accounts for the Lyon license as a right of use, because...
E. License of Symbolic IP: The Ultimate Frisbee League (UFL) licenses its trademark to Tank-Skin Apparel. Under the license arrangement, Tank-Skin pays the UFL a S1 mlion license fee plus a bonus when annual sales of Tank-Skin merchandise reach a threshold. The license agreement is for 4 years. How much of the S1 million license fee should the UFL recognize as revenue in the first year of the contract?
Can you please help me fix what I did wrong in red? Also, please
help me understand why we put "deferred revenue" and "service
revenue" - Thanks!
Brief Exercise 3-10 Record the adjusting entry for deferred revenue (L03-3) Suppose a customer rents a vehicle for three months from Commodores Rental on November 1, paying $5,400 ($1,800/month). Required: 1.&2. Record the necessary entries in the Journal Entry Worksheet below. 3. Calculate the year-end adjusted balances of the Deferred Revenue and Service...
Find a recent or important intellectual property case/situation (not discussed in the text). Then summarize the case for your fellow classmates. Mention its implications on business. Please post something new. Don't answer anything that was answered on here already. I will give thumbs up
please correct and complete both problems
Brief Exercise 6-25 (Algo) Timing of revenue recognition; licenses (L06-7) Saar Associates sells two licenses to Kim & Company on September 1, 2021. First, in exchange for $110.000, Saar provides Kim with a copy of its proprietary investment management software, which Saar does not anticipate updating and which kim can use permanently. Second, in exchange for $99,000, Saar provides Kim with a four-year right to market Kim's financial advisory services under the name of...
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Which of the following accounts should be classified as a paid-in-capital account? deferred lease revenue retained earnings no-par common stock accumulated depreciation
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23000 375 2000 123 1000 Exercise 5 (5 points total): For each account, indicate the normal balance by inserting debit or credit. (1 point each) (Part b) Normal Balance Creat credit Debit Cred 1. 2. 3. 4. Deferred/Unearned Revenue Utilities Expense Service Revenue Dividends Retained Earnings Cu 5.
if you could help me with #3 please. thank you
The following transactions occurred during December 31, 2021, for the Microchip Company. 1. On October 1, 2021, Microchip lent $87,000 to another company. A note was signed with principal and 8% interest to be paid on September 30, 2022. 2. On November 1, 2021, the company paid its landlord $8,400 representing rent for the months of November through January. Prepaid rent was debited. 3. On August 1, 2021, collected $14,400...
Given the function P(z)-7+7)(6z its y-intercept is its x-intercepts are x1 = 3), find Preview Preview ,x2 = Preview and z3 Preview with xi K 3 When x -> oo, y -» When x-+-oo, y → oo (Input+ or - for the answer) oo (Input+or - for the answer) Get help: Video Points possible: 10 Unlimited attempts. License