Q5 Revenue 11 Points The following information is relevant to questions 5.1, and 5.2. Due to COVID-19, Capelli Barber shop has lost significant business with a large number of customers deciding to 'cut out the middle-man' and do home haircuts. Mr. Capelli who operates his shop on Sydney Rd has decided to take drastic action to win back customers by providing a beverage and a tub of hair gel for each customer he gives a haircut. He has also implemented a loyalty scheme which entails a free haircut with the beverage of the tub of hari gel after every 4. A haircut by itself which Capelli insists is no longer an option was $35, an espresso coffee or Italian Sparkling water are valued at $3, and a tube of hair gel is $7. The new package is valued at $40. Q5.1 4 Points List all performance obligations included in the loyalty scheme and determine the transaction price for each of the performance obligations Q5.2 4 Points Record the journal entries for when the first haircut is complete, and when the last package is taken by the customer. Q5.3 3 Points Zbay Ltd operates a website that enables customers to purchase cosmetics from a range of suppliers who deliver the goods directly to the customers. Under the term of the Zbay's contract with suppliers, suppliers pay 10% of the sales price to Zbay to have their products listed on Zbay's website. Zbay facilitates payment between the supplier and the customer at prices that are set by the supplier. Customers are required to make full payment when submitting orders online. Zbay has no further obligations to the customers after arranging for products to be provided to the customer. Required: For a purchase made on Zbay's website, should Zbay be treated as a principal or an agent? Based on the information provided in the case, provide two reasons to support your