Homework Help is Here – Start Your Trial Now!
Business
Accounting
Recording journal entry after allocating transaction price to performance obligations -for the machine sold at its regular price, but with one year of free training and repair service, determine the dollar amount of revenue earned from the equipment sale versus the revenue earned from the training and repair service Hospital Equipment Company (HEC) acquired several fMRI machines for its inventory at a cost of $4,100 per machine. HEG usually sells these machines to hospitals at a price of $6.440. HEC also separately sells 12 months of training and repair services for fMRI machines for $2.760. HEC is paid $6,440 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC sold the machine at its regular price but included one year of free training and repair service 3 Hide Transcribed Text Hospital Equipment Company (HEC) acquire d several fMRI machines for its inventery at a cost of $4, 100 per machine. HEC usually sells these machines to hospitais at a price of $6, 440 .HEC also separately selis 12 months of taining and repatr services forfMRi machines for $2.760 .HEC is pald $6,440 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC soid the machine at its regular price but included one year or free training and repalf: service: Equipment Service Allocated Transaction Price S For the machine sold at its regular price, but with one year of "free" training and repair service, determine the dollar amount of revenue earned from the equipment sale versus the revenue earned from the training and repair service Ć Hide Transcribed Text For the machine sold otits regular pice, but with one year of free" training ond repair service, etermme the dolllar amount of revenue earnec from the equipment sale versus the revenue earned from the training and repair senice

Recording journal entry after allocating transaction price to performance obligations -for the machine sold at its regular price, but with one year of free training and repair service, determine the dollar amount of revenue earned from the equipment sale versus the revenue earned from the training and repair service Hospital Equipment Company (HEC) acquired several fMRI machines for its inventory at a cost of $4,100 per machine. HEG usually sells these machines to hospitals at a price of $6.440. HEC also separately sells 12 months of training and repair services for fMRI machines for $2.760. HEC is paid $6,440 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC sold the machine at its regular price but included one year of free training and repair service 3 Hide Transcribed Text Hospital Equipment Company (HEC) acquire d several fMRI machines for its inventery at a cost of $4, 100 per machine. HEC usually sells these machines to hospitais at a price of $6, 440 .HEC also separately selis 12 months of taining and repatr services forfMRi machines for $2.760 .HEC is pald $6,440 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC soid the machine at its regular price but included one year or free training and repalf: service: Equipment Service Allocated Transaction Price S For the machine sold at its regular price, but with one year of "free" training and repair service, determine the dollar amount of revenue earned from the equipment sale versus the revenue earned from the training and repair service Ć Hide Transcribed Text For the machine sold otits regular pice, but with one year of free" training ond repair service, etermme the dolllar amount of revenue earnec from the equipment sale versus the revenue earned from the training and repair senice

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

do not give solution in image format and Fast answering please

Recording journal entry after allocating transaction price to performance obligations -for the machine sold at its regular price, but with one year of free training and repair service, determine the dollar amount of revenue earned from the equipment sale versus the revenue earned from the training and repair service Hospital Equipment Company (HEC) acquired several fMRI machines for its Inventory at a cost of $4,100 per machine. HEC usually sells these machines to hospitals at a price of $6.440. HEC also separately sells 12 months of training and repair services for fMRI machines for $2.760. HEC is paid $6,440 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC sold the machine at its regular price but included one year of free training and repair service Hide Transcribed Text Hospital Equipment Company (HEC) acquire d several fMRi machines for its inventery at a cost of $4, 100 per machine. HEC usually sells these machines to hospitais at a price of $6,440 .HEC also separately selis 12 months of taining and repatr services forfMRI machines for $2.760 . HEC is pald $6, 440 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC soid the machine at its regular price but included one year or free training and repalf: service: Ć Equipment Service Ű For the machine sold at its regular price, but with one year of "free" training and repair service, determine the dollar amount of revenue earned from the equipment sale versus the revenue earned from the training and repair service Allocated Transaction Price Hide Transcribed Text For the machine sold otits regular pice, but with one year of free" training ond repair service, determme the dolllar amount of revenue earnec from the equipment sale versus the revenue earned from the training and repair senice
Transcribed Image Text:Recording journal entry after allocating transaction price to performance obligations -for the machine sold at its regular price, but with one year of free training and repair service, determine the dollar amount of revenue earned from the equipment sale versus the revenue earned from the training and repair service Hospital Equipment Company (HEC) acquired several fMRI machines for its Inventory at a cost of $4,100 per machine. HEC usually sells these machines to hospitals at a price of $6.440. HEC also separately sells 12 months of training and repair services for fMRI machines for $2.760. HEC is paid $6,440 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC sold the machine at its regular price but included one year of free training and repair service Hide Transcribed Text Hospital Equipment Company (HEC) acquire d several fMRi machines for its inventery at a cost of $4, 100 per machine. HEC usually sells these machines to hospitais at a price of $6,440 .HEC also separately selis 12 months of taining and repatr services forfMRI machines for $2.760 . HEC is pald $6, 440 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC soid the machine at its regular price but included one year or free training and repalf: service: Ć Equipment Service Ű For the machine sold at its regular price, but with one year of "free" training and repair service, determine the dollar amount of revenue earned from the equipment sale versus the revenue earned from the training and repair service Allocated Transaction Price Hide Transcribed Text For the machine sold otits regular pice, but with one year of free" training ond repair service, determme the dolllar amount of revenue earnec from the equipment sale versus the revenue earned from the training and repair senice
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS