Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

LTL Inc. sold and delivered a 3 D printer to a large university for total consideration of $ 1 8 , 0 0 0 .

LTL Inc. sold and delivered a 3D printer to a large university for total consideration of $18,000. As part of the contract, LTL will provide maintenance services on the printer for a three-year period. On a stand-alone basis, LTL sells that model of printer for $14,000, and the fair value of the maintenance services is $2,000 per year.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Small Business Management Launching & Growing Entrepreneurial Ventures

Authors: Justin Longenecker, William Petty, Leslie Palich, Frank Hoy

17th edition

9781285972565, 1133947751, 1285972562, 978-1133947752

More Books

Students also viewed these General Management questions