pls answer thanks Sheridan Centre is an experienced home appliance dealer. Sheridan Centre also offers a number of services together with the homeappliances that it sells. Assume that Sheridan Centre sells ovens on a stand-alone basis. Sheridan Centre also sells installation servicesand maintenance services for ovens. However, Sheridan Centre does not offer installation or maintenance services to customers whobuy ovens from other vendors. Pricing for ovens is as follows.Oven onlyOven with installation serviceOven with maintenance servicesOven with installation and maintenance services(b)OvenIn each instance in which maintenance services are provided, service is separately priced within the arrangement at $126.Additionally, the incremental amount charged by Sheridan Centre for installation approximates the amount charged by independentthird parties.InstallationMaintenance$840Assume that a customer purchases an oven with both installation and maintenance services for $1,000. Allocate the transaction priceof $1,000 among the performance obligations of the contract. Assume IFRS is followed. (Round percentage allocations to 2 decimalplaces, e.g. 12.25% and final answers to O decimal places, e.g. 5,275.)LA924LA9661,000

Formula used: Oven=Transaction price×Standalone price of OvenTotal standalone price…

Sheridan Centre is an experienced home appliance dealer. Sheridan Centre also offers a number of services together with the home appliances that it sells. Assume that Sheridan Centre sells ovens on a stand-alone basis. Sheridan Centre also sells installation services and maintenance services for ovens. However, Sheridan Centre does not offer installation or maintenance services to customers who buy ovens from other vendors. Pricing for ovens is as follows. Oven only Oven with installation service Oven with maintenance services Oven with installation and maintenance services (b) In each instance in which maintenance services are provided, service is separately priced within the arrangement at $126. Additionally, the incremental amount charged by Sheridan Centre for installation approximates the amount charged by independent third parties. Oven Installation Assume that a customer purchases an oven with both installation and maintenance services for $1,000. Allocate the transaction price of $1,000 among the performance obligations of the contract. Assume IFRS is followed. (Round percentage allocations to 2 decimal places, e.g. 12.25% and final answers to O decimal places, e.g. 5,275.) $ $840 924 $ 966 Maintenance $ 1,000

Sheridan Centre is an experienced home appliance dealer. Sheridan Centre also offers a number of services together with the home appliances that it sells. Assume that Sheridan Centre sells ovens on a stand-alone basis. Sheridan Centre also sells installation services and maintenance services for ovens. However, Sheridan Centre does not offer installation or maintenance services to customers who buy ovens from other vendors. Pricing for ovens is as follows. Oven only Oven with installation service Oven with maintenance services Oven with installation and maintenance services (b) In each instance in which maintenance services are provided, service is separately priced within the arrangement at $126. Additionally, the incremental amount charged by Sheridan Centre for installation approximates the amount charged by independent third parties. Oven Installation Assume that a customer purchases an oven with both installation and maintenance services for $1,000. Allocate the transaction price of $1,000 among the performance obligations of the contract. Assume IFRS is followed. (Round percentage allocations to 2 decimal places, e.g. 12.25% and final answers to O decimal places, e.g. 5,275.) $ $840 924 $ 966 Maintenance $ 1,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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