Which of the following is correct about changes in estimated variable consideration? a. changes in estimated variable consideration should be recognized as an adjustment to revenue in the period the change in estimate is madeb. changes in estimated variable consideration should be applied retroactively to all periods affected. c. changes in estimated variable consideration should be allocated retrospectively to all prior periodsd. changes in estimated variable consideration are not recognized in periods after transaction price is first estimateda. changes in estimated variable consideration should be recognized as an adjustment to revenue in the period the change in estimate is made

The chart shows the pricing history for two items. which person saved the most money by buying a product at the right time? carrie, who waited six months to buy a game system timothy, who bought a game system right away because it was popular eugene, who bought a phone immediately for fear they would sell out marlene, who waited six months to buy a phone

Captain john's yachts, inc., located in fort lauderdale, florida, rents three types of ocean-going boats: sailboats, cabin cruisers, and captain john's favorite, the luxury yachts. captain john advertises his boats with his famous "you rent"we pilot" slogan, which means that the company supplies the captain and crew for each rented boat. each rented boat has one captain, of course, but the crew sizes (deck hands, galley hands, etc.) differ. the crew requirements, in addition to a captain, are one for sailboats, two for cabin cruisers, and three for yachts. ten employees are captains, and an additional 18 employees fill the various crew positions. currently, captain john has rental requests for all his boats: four sailboats, eight cabin cruisers, and three luxury yachts. if captain john's daily profit contribution is $50 for sailboats, $70 for cruisers, and $100 for luxury yachts, how many boats of each type should he rent?

Grey company holds an overdue note receivable of $800,000 plus recorded accrued interest of $64,000. the effective interest rate is 8%. as the result of a court-imposed settlement on december 31, year 3, grey agreed to the following restructuring arrangement: reduced the principal obligation to $600,000.forgave the $64,000 accrued interest.extended the maturity date to december 31, year 5.annual interest of $40,000 is to be paid to grey on december 31, year 4 and year 5. the present value of the interest and principal payments to be received by grey company discounted for two years at 8% is $585,734. grey does not elect the fair value option for reporting the debt modification. on december 31, year 3, grey would recognize a valuation allowance for impaired loans of