YellowCard Property Managers operates upscale student apartment buildings. On May 1, 2020, Cheyenne signs a contract withYellowCard for 320 appliance bundles to be delivered and installed in one of its new buildings. YellowCard pays 20% cash atcontract signing and will pay the balance upon installation no later than August 1, 2020. Prepare journal entries for Cheyenne on(1) May 1, 2020, and (2) August 1, 2020, when all appliances are installed. (Credit account titles are automatically indented when theamount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.)No. Date Account Titles and ExplanationDebitCreditMay(1) 1,2020Aug.(2) 1,2020(To record sales)(To record cost of goods sold). Cheyenne Appliance Co. manufactures low-price, no-frills appliances that are in great demand for rental units. Pricing and costinformation on Cheyenne's main products are as follows.StandaloneItemSelling Price (Cost)Refrigerator$510($260 )Range570(280 )Stackable washer/dryer unit710(390 )Customers can contract to purchase either individually at the stated prices or a three-item bundle with a price of $1,830. The bundleprice includes delivery and installation. Cheyenne also provides installation (not a separate performance obligation).Respond to the requirements related to the following independent revenue arrangements for Cheyenne Appliance Co.

YellowCard Property Managers operates upscale student apartment buildings. On May 1, 2020, Cheyenne signs a contract with YellowCard for 320 appliance bundles to be delivered and installed in one of its new buildings. YellowCard pays 20% cash at contract signing and will pay the balance upon installation no later than August 1, 2020. Prepare journal entries for Cheyenne on (1) May 1, 2020, and (2) August 1, 2020, when all appliances are installed. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) No. Date Account Titles and Explanation Debit Credit May (1) 1, 2020 Aug. (2) 1, 2020 (To record sales)

YellowCard Property Managers operates upscale student apartment buildings. On May 1, 2020, Cheyenne signs a contract with YellowCard for 320 appliance bundles to be delivered and installed in one of its new buildings. YellowCard pays 20% cash at contract signing and will pay the balance upon installation no later than August 1, 2020. Prepare journal entries for Cheyenne on (1) May 1, 2020, and (2) August 1, 2020, when all appliances are installed. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) No. Date Account Titles and Explanation Debit Credit May (1) 1, 2020 Aug. (2) 1, 2020 (To record sales)

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter13: Nonlinear Optimization Models

Section: Chapter Questions

Problem 5P: Jims Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demand for these two...

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(Allocate Transaction Price, Discounts, Time Value) Economy Appliance Co. manufactures low-price, no-frills appliances that are in great demand for rental units. Pricing and cost information on the Economy’s main products are as follows. Item Standalone Selling Price (Cost) Refrigerator $500 ($260) Range 560 (275) Stackable washer/dryer unit 700 (400) Customers can contract to purchase either individually at the stated prices or a three-item bundle with a price of $1,800. The bundle price includes delivery and installation. Economy also provides installation (not a separate performance obligation).InstructionsRespond to the requirements related to the following independent revenue arrangements for Economy Appliance Co.(a) On June 1, 2017, Economy sold 100 washer/dryer units without installation to Laplante Rentals for $70,000. Laplante is a newer customer and is unsure how this product will work in its older rental units. Economy offers a 60-day return privilege and…
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Lockrite Security Company manufacturers home alarms. Currently, it is manufacturing one of its components at a total cost of $40, which includes fixed costs of $13 per unit. An outside provider of this component has offered to sell Lockrite the component for $29. Provide a differential analysis of the outside purchase proposal. If an amount is zero, enter "0". For those boxes in which you must enter subtracted or negative numbers use a minus sign. Differential Analysis Make Component (Alternative 1) or Buy Component (Alternative 2) MakeComponent(Alternative 1) BuyComponent(Alternative 2) DifferentialEffects(Alternative 2) Unit costs: Purchase price Variable costs Fixed costs Total unit costs $
Wildhorse Center is an experienced home appliance dealer. Wildhorse Center also offers a number of services for the home appliances that it sells. Assume that Wildhorse Center sells ovens on a standalone basis. Wildhorse Center also sells installation services and maintenance services for ovens. However, Wildhorse Center does not offer installation or maintenance services to customers who buy ovens from other vendors. Pricing for ovens is as follows. Oven only $820 Oven with installation service $830 Oven with maintenance services. $980 Oven with installation and maintenance services $891 In each instance in which maintenance services are provided, the maintenance service is separately priced within the arrangement at $160. Additionally, the incremental amount charged by Wildhorse Center for installation approximates the amount charged by independent third parties. Ovens are sold subject to a general right of return. If a customer purchases an oven with installation and/or…
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Appliance Center is an experienced home appliance dealer. Appliance Center also offers a number of services for the home appliances that it sells. Assume that Appliance Center sells ovens on a standalone basis. Appliance Center also sells installation services and maintenance services for ovens. However, Appliance Center does not offer installation or maintenance services to customers who buy ovens from other vendors. Pricing for ovens is as follows. Oven only $790 Oven with installation service 860 Oven with maintenance services 990 Oven with installation and maintenance services 990 In each instance in which maintenance services are provided, the maintenance service is separately priced within the arrangement at $200. Additionally, the incremental amount charged by Appliance Center for installation approximates the amount charged by independent third parties. Ovens are sold subject to a general right of return. If a customer purchases an oven with installation…
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