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Time left 0 : 1 9 : 0 3 F 1 0 0 Gym Ltd is a boutique gym chain that operates in Sydney area.
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F Gym Ltd is a boutique gym chain that operates in Sydney area. F Gym offers an annual membership at a price of $
After a customer pays an upfront cash payment of the annual membership fee, the customer will be entitled to ten Pilates lessons per month for months, ten personal training sessions per month for months and twenty yoga sessions per month for months. The standalone prices of these services are listed below.
tableServicePriceTen Pilates lessons for months,$ per persontableTen personal training sessions per monthfbefbbafbf person,for months,tableTwenty yoga sessions per month for months$ person
F Gym Ltd is a reporting entity, has adopted AASB: Revenue from contracts with customers and has a June year end.
Required:
On July Lana purchased an annual membership and paid a total upfront membership fee of $ The membership fee is nonrefundable. Considering AASB:
Explain whether a contract exists between F Gym Ltd and Lana.
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