Question

1) Do the Software Services constitute a performance obligation, as defined in ASC 606-10?

          1)      Do the Software Services constitute a performance obligation, as defined in ASC 606-10?

Added by Jerry M.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

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Solved by Expert Mauya Mitchell

11/01/2024

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A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. Show more…

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1) Do the Software Services constitute a performance obligation, as defined in ASC 606-10?

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Transcript

00:01 Hello, in this video, i will be explaining the following.

00:03 So let's go ahead and start.

00:05 First, we're going to find our cumulative costs and cured.

00:09 So that's 520 ,000 plus 920 ,000, and that's 1 -440 ,000.

00:18 And then the total estimated costs is 2240 ,000.

00:23 So we do 1 -4 -40 ,000 over 2440 ,000.

00:30 To 24.

00:32 0 ,000, and that's 0 .6 .24 -2857.

00:40 And then we go ahead and take that.

00:44 We're going to multiply it by 1 -6 -0 -0 -0 -8 -7 .1.

00:53 So that is 1028787 -1...

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