Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help me with (b)! im struggling with the journal entries CALCULATOR BACK NEXT Problem 18-01 (Part Level Submission) Cheyenne Company sells tablet PC combined

Please help me with (b)! im struggling with the journal entries image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
CALCULATOR BACK NEXT Problem 18-01 (Part Level Submission) Cheyenne Company sells tablet PC combined with Internet service, which permits the table to connect to the Internet anywhere and set up a w- hot spot. It offers two bundes with the following terms 1. Cheyenne Bundle A sea tablet with 3 years of internet service. The price for the tablet and a 5-year Internet connection service contract 1516. The standalone willing price of the toti 4257 the cost Cheyen Company $175). Cheyenne Company ses the Internet access service dependently for an upfront payment of $299. 2. 2020, Cheyenne Company and 110 contract, revisto 556,60 inch 3. Cheyenne funde indudes the tablet and internet service plus a service plan for the table for any repairs or upgrade to the tablet or the Internet connections during the year contra prod. That hunde cells for $619 Chevron Company provides the year tablet service plan sepertiroduct with a stadion selling price of 164 Cheyenne Campanied 216 contracts for Cher Bandes an MV I. a of 129,990 Your answer is correct Prepare any yumalantries to record the revenue agement for Cheyenne Bundle Anuary 2, 2030, and December 31, 2020. (Credit accounts we automatically indented when the amounts were not badent manually. Ir ne entry is required we entry for the accounts and for the under to decima. Accountities and Explanation Deb 54,70 Cred Sales Revenue 26,774 29 Untamed Service Reve trend Cast of God 19.250 10,250 Invey to record Prepare any journal entries to record the reverse arrangement for Cheyenne Bundle on Say 1, 2020, and December 31, 2020. (Credit accountitles are automatically indeed when the amount is an amor indent manually. The entry is required lect"No entry for the account it and tear for the amounts Mound onwers to decimal places 12.) Date Acomunities and Explanation Debit Credit 2020 CM Cost of Goods Sold Sales Reven med service Revenue Tort Cour of Goods twentory to record of goods Dec, 2070 Click If you would like to show Work for this question Gene W Problem 18-01 [Part Level Sutomission) Cheyenne Company i tablet PCs combined with Internet service, which permits the table to connect to the Internet anywhere and set up a W-Phot spot. It offers two hundies with the following term. Cheyenne indie Al with 3 years of the service. The price for the tablet ander internet connection in contract5516. The standing price of the table (the cost to Cheyenne Company 517) Cheyenne Company is the access service independently for an upfront payment of 299. Onuary 2, 2020, Cheyenne Company signed 11 contracts receiving a totale 356,250 inch 2 Cheyenne de dues that and Internet service plus de plan for the tablet PC (for repairs or upgrade to the tablet or the internet connections during the year contract period. That product bunden is for $619. Cheyenne Company provides the years in parte dort with an ang price of 164 Cheyenne Cam 10 contracts for Cheyenne Bundle on July 1 2020. via total of $129,990 in cash (a) Your answer is correct. Prepare any joumal entries to record the revenue arrangement for Cheyenne Bundle A on January 2, 2020, and December 31, 202 not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. Roun Date Account Titles and Explanation Debit Credit Jan 2.2020 Cash 56,760 Sales Revenue 26,774 29,986 Unearned Service Reve (To record sales) Cost of Goods Sold 19,250 Inventory (To record cost of goods sold) 19,250 Punearned Service Revenue Dec 31, 2020 9,995 Service Revenue 9,995 (b) Prepare any journal entries to record the revenue arrangement for Cheyenne Bundle B on July 1, 2020, and December 31, 2020. indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. Round Date Account Titles and Explanation Debit Credit Jul. 1, 2020 Cash Cost of Goods Sold Sales Revenue Uneamed Service Revenue (To record sales) Cost of Goods Sold Inventory (To record cost of goods sold) Dec. 31, 2020 CALCULATOR BACK NEXT Problem 18-01 (Part Level Submission) Cheyenne Company sells tablet PC combined with Internet service, which permits the table to connect to the Internet anywhere and set up a w- hot spot. It offers two bundes with the following terms 1. Cheyenne Bundle A sea tablet with 3 years of internet service. The price for the tablet and a 5-year Internet connection service contract 1516. The standalone willing price of the toti 4257 the cost Cheyen Company $175). Cheyenne Company ses the Internet access service dependently for an upfront payment of $299. 2. 2020, Cheyenne Company and 110 contract, revisto 556,60 inch 3. Cheyenne funde indudes the tablet and internet service plus a service plan for the table for any repairs or upgrade to the tablet or the Internet connections during the year contra prod. That hunde cells for $619 Chevron Company provides the year tablet service plan sepertiroduct with a stadion selling price of 164 Cheyenne Campanied 216 contracts for Cher Bandes an MV I. a of 129,990 Your answer is correct Prepare any yumalantries to record the revenue agement for Cheyenne Bundle Anuary 2, 2030, and December 31, 2020. (Credit accounts we automatically indented when the amounts were not badent manually. Ir ne entry is required we entry for the accounts and for the under to decima. Accountities and Explanation Deb 54,70 Cred Sales Revenue 26,774 29 Untamed Service Reve trend Cast of God 19.250 10,250 Invey to record Prepare any journal entries to record the reverse arrangement for Cheyenne Bundle on Say 1, 2020, and December 31, 2020. (Credit accountitles are automatically indeed when the amount is an amor indent manually. The entry is required lect"No entry for the account it and tear for the amounts Mound onwers to decimal places 12.) Date Acomunities and Explanation Debit Credit 2020 CM Cost of Goods Sold Sales Reven med service Revenue Tort Cour of Goods twentory to record of goods Dec, 2070 Click If you would like to show Work for this question Gene W Problem 18-01 [Part Level Sutomission) Cheyenne Company i tablet PCs combined with Internet service, which permits the table to connect to the Internet anywhere and set up a W-Phot spot. It offers two hundies with the following term. Cheyenne indie Al with 3 years of the service. The price for the tablet ander internet connection in contract5516. The standing price of the table (the cost to Cheyenne Company 517) Cheyenne Company is the access service independently for an upfront payment of 299. Onuary 2, 2020, Cheyenne Company signed 11 contracts receiving a totale 356,250 inch 2 Cheyenne de dues that and Internet service plus de plan for the tablet PC (for repairs or upgrade to the tablet or the internet connections during the year contract period. That product bunden is for $619. Cheyenne Company provides the years in parte dort with an ang price of 164 Cheyenne Cam 10 contracts for Cheyenne Bundle on July 1 2020. via total of $129,990 in cash (a) Your answer is correct. Prepare any joumal entries to record the revenue arrangement for Cheyenne Bundle A on January 2, 2020, and December 31, 202 not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. Roun Date Account Titles and Explanation Debit Credit Jan 2.2020 Cash 56,760 Sales Revenue 26,774 29,986 Unearned Service Reve (To record sales) Cost of Goods Sold 19,250 Inventory (To record cost of goods sold) 19,250 Punearned Service Revenue Dec 31, 2020 9,995 Service Revenue 9,995 (b) Prepare any journal entries to record the revenue arrangement for Cheyenne Bundle B on July 1, 2020, and December 31, 2020. indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. Round Date Account Titles and Explanation Debit Credit Jul. 1, 2020 Cash Cost of Goods Sold Sales Revenue Uneamed Service Revenue (To record sales) Cost of Goods Sold Inventory (To record cost of goods sold) Dec. 31, 2020

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

Advanced Financial Reporting And Analysis

Authors: John Dunn, Margaret Stewart

1st Edition

0470973609, 9780470973608

More Books

Students also viewed these Accounting questions

Question

Explain the employee benefits that are required by law.

Answered: 1 week ago

Question

List the types of incentive plans.

Answered: 1 week ago