A company provide equipment, installation services as well as training to its customers. Customers can purchase any product or service separately or as a bundled package. A customer purchased equipment, installation and training for a total cost of $189,600 on January 1, 2021. Estimated standalone fair values of the equipment, installation, and training are $100,000, $80,000, and $20,000 respectively. The transaction price allocated to installation is $___________
A company provide equipment, installation services as well as training to its customers. Customers can purchase any product or service separately or as a bundled package. A customer purchased equipment, installation and training for a total cost of $189,600 on January 1, 2021. Estimated standalone fair values of the equipment, installation, and training are $100,000, $80,000, and $20,000 respectively. The transaction price allocated to installation is $___________
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A company provide equipment, installation services as well as training to its customers. Customers can purchase any product or service separately or as a bundled package. A customer purchased equipment, installation and training for a total cost of $189,600 on January 1, 2021. Estimated standalone fair values of the equipment, installation, and training are $100,000, $80,000, and $20,000 respectively. The transaction price allocated to installation is $___________.
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