E 6.02 – Ski West Inc.
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Determine when should Ski West recognize revenue, prepare journal entries, and what will be included in Ski West income statement.
Determine when should Ski West recognize revenue, prepare journal entries, and what will be included in Ski West income statement.
Asks how much revenue would be allocated to each TV, remote, and install.
Given an amount of money received by a bank in exchange for units of gold… find the number of performance obligations along with journal entries.
Given the price of boots, percent discount, percent of customers that to use coupon, additional goods, and pairs sold… determine the number of obligations and journal entry.
Determine the revenue, the number performance obligations, and prepare the journal entry.
Given the details of a contract that includes the amount promised to sell, fixed price, percent discount, discount sales, the estimation on the percentage of use, the amount applied to, and stand-alone price… determine the number of performance obligations along with preparing two separate journal entries.
Calculate transaction price using both expected value and most likely value.
Given the flat fee, the additional fee, and the cost savings percentage… find the transaction price and the expected amounts.
Create the journal entries to record the transactions.
Given the payment due at a future date, and the interest rate… prepare the journal entries.