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Use the following information to answer questions 5 - 7 : Assume that Evesdrop Co is a media company. Evesdrop decides to run a special
Use the following information to answer questions : Assume that Evesdrop Co is a media company. Evesdrop decides to run a special promotion, where a customer can obtain three independent media streaming services Omaha Meadows, and Holly TV for $ per month if the customer purchases an annual subscription and pays at the beginning of the period. The three streaming services have the following per month price:
Omaha: $ per month
Meadows: $ per month
Holly TV: $ per month
How many performance obligations are stated within the special promotion contract?
What is the transaction price allocated to "Omaha" for the full year subscription under the promotion?
What is the amount of unearned revenue associated with Holly TV after months of services have been provided?
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