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Firm ABC provides two distinct performance obligations - sale of water heaters and installation of water heaters. On March 15, 2024, Company ZZZ purchased a
Firm ABC provides two distinct performance obligations - sale of water heaters and installation of water heaters. On March 15, 2024, Company ZZZ purchased a water heater and installation services for a discounted promotional price of $100,000. Estimated standalone price of the water heater and installation are $90,000 and $30,000, respectively. The transaction price allocated to the water heater in Company ZZZ's contract should be: Firm ABC provides two distinct performance obligations - sale of water heaters and installation of water heaters. On March 15, 2024, Company ZZZ purchased a water heater and installation services for a discounted promotional price of $100,000. Estimated standalone price of the water heater and installation are $90,000 and $30,000, respectively. What should be the transaction price allocated to the water heater in Company ZZZ's contract?
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Intermediate Accounting Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
12th Canadian edition
119-49633-5, 1119496497, 1119496330, 978-1119496496
