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PLease show calculations and explanations for the following questions!! Thank you Use the following information for the next fow questions. During 2018, Gother Corp. contracts
PLease show calculations and explanations for the following questions!!
Thank you
Use the following information for the next fow questions. During 2018, Gother Corp. contracts to sell 150 wits of a gaming device to Best Buy for $100 per unit. Gother delivers 100 units in 2018 under the contract. On 1/1/2019, Gother agrees to a contract modification to deliver 30 additional gaming devices at $90 per wit. The contract modification is accounted for as a price concession using the cumnlarive catch-up method (i.e., the units in the second contract are gimilar to those in the first and the wait price for the 30 gaming devices in the second contract is substantially less than under a stand-alone contract). All sales are cash at delivery. During January 2019, Gother delivered the remaining 50 units under the first contract and none under the second contract. 25. Sales Revenue recognized in 2018 for the delivery of the 100 wnits in 2018 is a. 10,000 b. 9,500 c. 15,000 d. 5,000 e. 9,000 26. What is the "blended price" after contract modification? a. 95.00 b. 98.33 c. 90.00 d. 96.25 e. None of the above 27. How much cash is due from the customer for the 50 units delivered in January 2019 under the original contract? a. 50$98.33 b. 50$90.00 c. 50$100.00 d. 50895.00 e. 50$9625 28. On December 24, 2018, Gefce Inc. delivers goods to a customer on account at a selling price of $7,000. The customer will receive a cash discount of 2% (or, \$140) if payment is received by January 03, 2019. Practically every customer receives the discount. In this case, the customer paid by the deadline and remaited 36.860mTrn072010 What whould Garceg report as Sales Revenue forStep by Step Solution
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