Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. sheridan company sells lap lane pools that cost $5

Sheridan Company sells lap lane pools that cost $50700 to customers for $127900. The sales...

60.1K

Verified Solution

Question

Accounting

Sheridan Company sells lap lane pools that cost $50700 to customers for $127900. The sales price includes an installation fee, which is valued at $20400. The fair value of the pool is $103900. The installation is considered a separate performance obligation and is expected to take 3 months to complete. The transaction price allocated to the pool and the installation is A) $106909 and $20991, respectively. B) $127900 and $20400, respectively. C) $103900 and $20400, respectively. D) $89091 and $14809, respectively.
image
Sheridan Company sells lap lane pools that cost $50700 to customers for $127900. The sales price includes an installation fee, which is valued at $20400. The fair value of the pool is $103900. The installation is considered a separate performance obligation and is expected to take 3 months to complete. The tralsaction price allocated to the pool and the installation is $106909 and $20991, respectively. $127900 and $20400, respectively. $103900 and $20400, respectively. $89091 and $14809, respectively

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Answer the following questions related to “Type HE” cement What property of this cement sets it...

Civil Engineering
Q

A model rocket is fired vertically upward from rest. Its acceleration for the first three seconds...

Physics
Q

what is the dimension Chain? what is the closing link,increasing link and decreasing link?

Mechanical Engineering
Q

a. Consider a non-equilateral triangle. Try to create a tessellation around a point as you did...

Advance Math
Q

di Below is a picture from a herd of wild horses in Wyoming Large populations...

Biology
Q

a A system consists of a uniformly charged sphere of radius R and a surrounding...

Physics
Q

1 Felbatol 0 8 Gm po BID has been ordered for a client Felbatol felbamate...

Basic Math
Q

A radioactive material decays according to the function A t Age 0 0244t where Ao...

Basic Math
Q

Complete 4 and 5 please. CASE 3A - AUERBACH ENTERPRISES Auerbach Enterprises manufactures air...

Accounting
Q

covered. What type of company uses process costing? Provide an example or two. What are...

Accounting
Q

At the beginning of September, Helen Rojas started Rojas Wealth Management Consulting, a firm that...

Accounting
Q

please i want the answers in excel, like the original answers. ...

Finance