Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help fast Happy Home Company (HHC) sells patio tables (Tables), high quality outdoor chairs (Chair Sets) and outdoor heaters (Heaters) so that their customers

image text in transcribedimage text in transcribedimage text in transcribed

please help fast

Happy Home Company (HHC) sells patio tables ("Tables"), high quality outdoor chairs ("Chair Sets") and outdoor heaters ("Heaters") so that their customers can enjoy the outdoors for twelve months of the year! On June 30 2020, HHC had a Lockdown Blowout Sale where they bundled these three items, targeting new home owners. HHC Item Stand-Alone Price Bundled Price Bundle Discount Table (cost $125) $ 250 Chair Sets (cost per 200 set $90) Heater (cost $80) 150 Total for bundle $ 600 $ 440 $ 160 HHC considers these items to represent two performance obligations as the Table & Chair Sets are usually sold together (shipped immediately on June 30th) and the Heaters are generally sold only in the Fall and Winter. For this bundle, heaters are shipped on November 15th in time for the colder weather. All items are sold FOB shipping point. VSTRUCTIONS (Show details of all calculations.) repare all the journal entries for HHC as follows: ction 2 [nainte Question 3 (5 points) Journal entries for June 30th when HHC sells and ships 100 bundles for $44,000 and the related costs. Format ... estion 4 (4 points) urnal entries for November 15th when all of the heaters for the bundles are ipped, including the related costs for the heaters. 5 Question 4 (4 points) Journal entries for November 15th when all of the heaters for the bundles are shipped, including the related costs for the heaters. C Format B I U ... A/ ha Part 2 (6 marks) MacBook Air

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

Auditing and Assurance services an integrated approach

Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley

15th edition

978-0133125634, 9780133423815, 133125637, 133423816, 978-0133125689

More Books

Students also viewed these Accounting questions