FOR SOME REASON IT SAYS THAT THE QUESTION IS STILL NOT COMPLETE, I DON'T KNOW WHAT IM DOING WRONG
CI Calve Lumpulny Sens a LADIEL Lumpule Laneu ule TIULOW. THE PILU Sales Price Ula riulaw rackaye llllluues uit following: One Protab computer. A 6-month limited warranty. This warranty guarantees that Creative will cover any costs that arise due to repairs or replacements associated with defective products for up to six months. A coupon to purchase a Creative Probook e-book reader for $400, a price that represents a 50% discount from the regular Probook price of $800. It is expected that 25% of the discount coupons will be utilized. A coupon to purchase a one-year extended warranty for $45. Customers can buy the extended warranty for $80 at other times if they do not use the $45 coupon. Creative estimates that 30% of customers will purchase an extended warranty. Creative does not sell the Protab without the limited warranty, option to purchase a Probook, and the option to purchase an extended warranty, but estimates that if it did so, a Protab alone would sell for $900. Required: 1. & 2. Indicate below whether each item is a separate performance obligation and allocate the transaction price of 90,000 Protab Packages to the separate performance obligations in the contract. 3. Prepare a journal entry to record sales of 90,000 Protab Packages. X Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Indicate below whether each item is a separate performance obligation and allocate the transaction price of 90,000 Protab Packages to the separate performance obligations in the contract. Performance Obligation? Stand Show less Percentage of Total Stand Alone Price 89.06% Item Descrption Alone Price Yes No Yes 9.90% Protab tablet Limited 6-month warranty Option to purchase a Probook Option to purchase extended warranty Total stand alone price $ 81,000,000 $ 0 $ 9,000,000 $ 945,000 $ 90,945,000 Yes 1.04% 100.00% Percentage of Total Stand Alone Item Descrption Price Total Transaction Price $ 82,800,000 Allocated Contract Price $ 73,741,680 89.06% = 9.90% $ 8,197,200 Protab tablet Limited 6-month warranty Option to purchase a Probook Option to purchase extended warranty Total contract price $ 82,800,000 $ 82,800,000 1.04% x $ 861,120 IS 82.800.000 Required: 1. & 2. Indicate below whether each item is a separate performance obligation and allocate the transaction price of 90,000 Protab Packages to the separate performance obligations in the contract. 3. Prepare a journal entry to record sales of 90,000 Protab Packages. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Req 3 Prepare a journal entry to record sales of 90,000 Protab Packages. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Credit Debit 82,800,0 1 Transaction General Journal 1 Cash Sales revenue Deferred revenue - coupons 73,741,6 8,197,20
