Question
Allocating a Transaction Price Seven Flags Park offers a promotion for free parking to customers who purchase a one day pass to enjoy thrill rides
Allocating a Transaction Price Seven Flags Park offers a promotion for free parking to customers who purchase a one day pass to enjoy thrill rides at its park plus two meal vouchers for a total of $75. Seven Flags sells each of the contract promises separately during the same time frame for the following standalone prices: Day pass = $45, Parking = $20, and two meal vouchers = $30. Compute the allocated transaction price of the day, two meals, and parking for Seven Flags assuming the sale of 500 promotional packages on July 15, 2020. *Round each allocated transaction price to the nearest whole dollar.
| Performance Obligations | Transactions Price as Stated | Standalone Selling Price | Selling Price Ratio | Total Allocated Transaction Price (rounded) | ||
|---|---|---|---|---|---|---|
| Day passes | Answer | Answer | Answer | Answer | Answer | |
| Two meals | Answer | Answer | Answer | Answer | Answer | |
| Parking | Answer | Answer | Answer | Answer | Answer | |
| Answer | Answer | Answer | ||||
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The Corporate Culture Audit
Authors: Nigel Bristow, Sarah J. Sandberg
1st Edition
095597075X, 978-0955970757
