ok should be better now
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CALOVSANOR MESSAGE Y INSTRUCTOR FULL SCREEN PRINTER VERSION Coronado Financial Services performs bokkesping and taxreporting services to startup companies in the Ocenomowpe area. On January 1, 2017, Corenado entered into a 3-year service contract with Waileye Tech. Walleye pramisas to pay $9,300 at the begineing of each vear, whidh at contract inception is the standalone sellng prike for these services. At the end of the second year, the contract is modified and the fee for the third year of services is reducad bo $7,300. In addition, Waleye agrees to pay an adstional $18,600 at the beginning of the third year to cover the contract for 3 adational years (.e. 4 years remain after the modfication). The extended contract services are simlar to those pravided in the first 2 yearss of the contract BACK NEXT repare the jourmal ntles far Coronado in 2017 and 2018 related to this service contract. (Credit account titfes are autometicaly lndented whon the amount is entered. Do mot indent manually. If no entry is required, select "No eotry" fer the account ttles and enter 0 for the amaunts) Date Account Titles and Explanation Debit Credt soW ST OF accEs Repeat the requirements for part (b), assuming Coronado and Waleye agree on a revised set of services (fewer bookkeeping services but more tax services) in the extended contract period and the modification resuits in a separate performance obligation. (Crodit account titfes are automatically indented when the amount is antered Do nae indent manually. If ao eatry is required, select "No entry" for the account titles and enter 0 for the amounts,) Date Account Titles and Explanation Debit Credit SHOW LEST OF ACCOUNTS Question 4 Coronado Financial Services performs bookkeeping and tax-reporting services to startup companies in the Oconomowoc area. On January 1, 2017, Coronado entered into a 3-year service contract with Walleye Tech. Walleye promises to pay $9,300 at the beginning of each year, which at contract inception is the standalone selling price for these services. At the end of the second year, the contract is modified and the fee for the third year of services is reduced to $7,300. In addition, Walleye agrees to pay an additional $18,600 at the beginning of the third year to cover the contract for 3 additienal years (e, 4 years remain after the modification). The extended contract services are similar to those provided in the first 2 years of the contract Prepare the journal entries for Coronado in 2017 and 2018 related to this service contract. (Credit accowst titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Prepare the journal entries for Coronado in 2019 related to the modified service contract, assuming a prospective approach. (Credit account tit indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit SHOW L1ST OF ACCOUNTS Repeat the requirements for part (b), assuming Coronado and Walleye agree on a revised set of services (fewer bookkeeping services but more tax services) in the extended contract peried and the modincation results in a separate performance obligation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually If o entry is required, select "No entry for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS CALOVSANOR MESSAGE Y INSTRUCTOR FULL SCREEN PRINTER VERSION Coronado Financial Services performs bokkesping and taxreporting services to startup companies in the Ocenomowpe area. On January 1, 2017, Corenado entered into a 3-year service contract with Waileye Tech. Walleye pramisas to pay $9,300 at the begineing of each vear, whidh at contract inception is the standalone sellng prike for these services. At the end of the second year, the contract is modified and the fee for the third year of services is reducad bo $7,300. In addition, Waleye agrees to pay an adstional $18,600 at the beginning of the third year to cover the contract for 3 adational years (.e. 4 years remain after the modfication). The extended contract services are simlar to those pravided in the first 2 yearss of the contract BACK NEXT repare the jourmal ntles far Coronado in 2017 and 2018 related to this service contract. (Credit account titfes are autometicaly lndented whon the amount is entered. Do mot indent manually. If no entry is required, select "No eotry" fer the account ttles and enter 0 for the amaunts) Date Account Titles and Explanation Debit Credt soW ST OF accEs Repeat the requirements for part (b), assuming Coronado and Waleye agree on a revised set of services (fewer bookkeeping services but more tax services) in the extended contract period and the modification resuits in a separate performance obligation. (Crodit account titfes are automatically indented when the amount is antered Do nae indent manually. If ao eatry is required, select "No entry" for the account titles and enter 0 for the amounts,) Date Account Titles and Explanation Debit Credit SHOW LEST OF ACCOUNTS Question 4 Coronado Financial Services performs bookkeeping and tax-reporting services to startup companies in the Oconomowoc area. On January 1, 2017, Coronado entered into a 3-year service contract with Walleye Tech. Walleye promises to pay $9,300 at the beginning of each year, which at contract inception is the standalone selling price for these services. At the end of the second year, the contract is modified and the fee for the third year of services is reduced to $7,300. In addition, Walleye agrees to pay an additional $18,600 at the beginning of the third year to cover the contract for 3 additienal years (e, 4 years remain after the modification). The extended contract services are similar to those provided in the first 2 years of the contract Prepare the journal entries for Coronado in 2017 and 2018 related to this service contract. (Credit accowst titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Prepare the journal entries for Coronado in 2019 related to the modified service contract, assuming a prospective approach. (Credit account tit indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit SHOW L1ST OF ACCOUNTS Repeat the requirements for part (b), assuming Coronado and Walleye agree on a revised set of services (fewer bookkeeping services but more tax services) in the extended contract peried and the modincation results in a separate performance obligation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually If o entry is required, select "No entry for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS
