Question: https!//ezi Apps * Bookmarks Recipes 22 Google Calendar -... Save to BigOven walue: 20.00 points Exercise 5-2 Principal or agent [LO5-2] AuctionCo.com sells used products

https!//ezi Apps * Bookmarks Recipes 22 Google Calendar -... Save to BigOven walue: 20.00 points Exercise 5-2 Principal or agent [LO5-2] AuctionCo.com sells used products collected from different suppliers. Assume a customer ordered a used bicycle through AuctionCo.com for $66. The cost of this bicycle is $39 to AuctionCo.com. The bicycle will be shipped to the customer by the original bicycle owner. Required: 1. Assume AuctionCo.com takes control of this used bicycle before sale. Under this assumption, how much revenue would company recognize? Revenue 2. Assume AuctionCo.com never takes control of this used bicycle before sale. Under this assumption, how much revenue would the company recognize? Revenue 3. Which assumption do you think is more appropriate for the AuctionCo.com case? Assumption that Auction Co.com is the principal. Assumption that AuctionCo.com is acting as an agent. References Exercise Exercise 5-2 Principal Learning Objective: 05-02 Discuss the mendid https!//ezi Apps * Bookmarks Recipes 22 Google Calendar -... Save to BigOven walue: 20.00 points Exercise 5-2 Principal or agent [LO5-2] AuctionCo.com sells used products collected from different suppliers. Assume a customer ordered a used bicycle through AuctionCo.com for $66. The cost of this bicycle is $39 to AuctionCo.com. The bicycle will be shipped to the customer by the original bicycle owner. Required: 1. Assume AuctionCo.com takes control of this used bicycle before sale. Under this assumption, how much revenue would company recognize? Revenue 2. Assume AuctionCo.com never takes control of this used bicycle before sale. Under this assumption, how much revenue would the company recognize? Revenue 3. Which assumption do you think is more appropriate for the AuctionCo.com case? Assumption that Auction Co.com is the principal. Assumption that AuctionCo.com is acting as an agent. References Exercise Exercise 5-2 Principal Learning Objective: 05-02 Discuss the mendid

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