Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. exercise 6-3 (algo) allocating transaction price [

Exercise 6-3 (Algo) Allocating transaction price [LO6-4] Video Planet (VP) sells a big screen TV...

80.2K

Verified Solution

Question

Accounting

image
Exercise 6-3 (Algo) Allocating transaction price [LO6-4] Video Planet (VP) sells a big screen TV package consisting of a 60 -inch plasma TV, a universal remote, and on-site installation by VP staff. The installation includes programming the remote to have the TV interface with other parts of the customer's home entertainment system. VP concludes that the TV, remote, and installation service are separate performance obligations. VP sells the 60 -inch TV separately for $1,500, sells the remote separately for $200, and offers the installation service separately for $300. The entire package sells for $1,900. Required: How much revenue would be allocated to the TV, the remote, and the installation service? Note: Do not round intermediate calculations

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

discuss the use, purpose and evaluation of Westguard Rules along with interpretation of histogram results. What...

Finance
1.2K views

Problem 3-14 Income versus Cash Flow (LO3) Butterfly Tractors had $15.00 million in sales last year....

Biology
1.2K views

Imagine a student measures the concentration of a bacterial culture using the \"direct microscopic method\" (using...

Mechanical Engineering
1.2K views

Management for Engineers - You intend to set up an automotive workshop. The workshop provides services such...

Geometry
1.2K views

A suburban city has a population of 58 000 people It has an area of...

Geometry
1.2K views

5 Find the area of the 30 60 90 right AABC with AB 8 cm...

Basic Math
1.2K views

8 A radioactive isotope is decaying at a rate of 18 every hour Currently there...

Calculus
1.2K views

Write a in the form a T aN N without finding T and N r...

Accounting
1.2K views

3. Company Management is interested in reviewing the May 2014 performance report for Cost Center...

Accounting
1.2K views

Your Company purchased a producing oil well for $3,500,000. Salvage value is estimated to be...

Accounting
1.2K views

Service Department Charges In divisional income statements prepared for LeFevre Company, the Payroll Department costs...

Finance
1.2K views

7. The payback period Aa Aa The payback method helps firms establish and identify a...