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1 Mar 2019
Identify and explain when each of thefollowing companies should recognize revenue.
a. a. TheGAP is a retailer of clothing items for all ages
b. Merckengages in developing, manufacturing, and marketing pharmaceuticalproducts. It sells its drugs to retailers like CVS andWalgreen.
c. Deeremanufactures heavy equipment . It sellsequipment to a network of independent distributors, who in turnsell the equipment to customers. Deereprovides financing and insurance services both to distributors andcustomers.
d. Bankof America is a banking institution. Itlends money to individuals and corporations and invests excessfunds in marketable securities.
e. JohnsonControls manufactures products for the government under long-termcontracts.
Identify and explain when each of thefollowing companies should recognize revenue.
a. a. TheGAP is a retailer of clothing items for all ages
b. Merckengages in developing, manufacturing, and marketing pharmaceuticalproducts. It sells its drugs to retailers like CVS andWalgreen.
c. Deeremanufactures heavy equipment . It sellsequipment to a network of independent distributors, who in turnsell the equipment to customers. Deereprovides financing and insurance services both to distributors andcustomers.
d. Bankof America is a banking institution. Itlends money to individuals and corporations and invests excessfunds in marketable securities.
e. JohnsonControls manufactures products for the government under long-termcontracts.
Collen VonLv2
3 Mar 2019
