Performance obligation: Performance obligation is the promise made by the seller to supply the goods and service to the customer on or before the contract. To discuss: The basis of contract’s transaction price allocated to its performance obligation.

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Answer 1

Question

Chapter 5, Problem 5.4E

Requirement – 1

To determine

Performance obligation:

Performance obligation is the promise made by the seller to supply the goods and service to the customer on or before the contract.

To discuss: The basis of contract’s transaction price allocated to its performance obligation.

Requirement – 2

To determine

To discuss: The indicators that promised goods or service is separately identifiable from other goods and services promised in the contract.

Requirement – 3

To determine

To discuss: The circumstances for viewed the option as performance obligation.

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Answer 2

Question

Chapter 5, Problem 5.4E

Requirement – 1

To determine

Performance obligation:

Performance obligation is the promise made by the seller to supply the goods and service to the customer on or before the contract.

To discuss: The basis of contract’s transaction price allocated to its performance obligation.

Requirement – 2

To determine

To discuss: The indicators that promised goods or service is separately identifiable from other goods and services promised in the contract.

Requirement – 3

To determine

To discuss: The circumstances for viewed the option as performance obligation.

Expert Solution & Answer

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Answer 3

Question

Chapter 5, Problem 5.4E

Requirement – 1

To determine

Performance obligation:

Performance obligation is the promise made by the seller to supply the goods and service to the customer on or before the contract.

To discuss: The basis of contract’s transaction price allocated to its performance obligation.

Requirement – 2

To determine

To discuss: The indicators that promised goods or service is separately identifiable from other goods and services promised in the contract.

Requirement – 3

To determine

To discuss: The circumstances for viewed the option as performance obligation.

Expert Solution & Answer

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Answer 4

Question

Chapter 5, Problem 5.4E

Requirement – 1

To determine

Performance obligation:

Performance obligation is the promise made by the seller to supply the goods and service to the customer on or before the contract.

To discuss: The basis of contract’s transaction price allocated to its performance obligation.

Requirement – 2

To determine

To discuss: The indicators that promised goods or service is separately identifiable from other goods and services promised in the contract.

Requirement – 3

To determine

To discuss: The circumstances for viewed the option as performance obligation.

Expert Solution & Answer

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Answer 5

Chapter 5, Problem 5.4E

Requirement – 1

To determine

Performance obligation:

Performance obligation is the promise made by the seller to supply the goods and service to the customer on or before the contract.

To discuss: The basis of contract’s transaction price allocated to its performance obligation.

Requirement – 2

To determine

To discuss: The indicators that promised goods or service is separately identifiable from other goods and services promised in the contract.

Requirement – 3

To determine

To discuss: The circumstances for viewed the option as performance obligation.

Answer 6

Chapter 5, Problem 5.4E

Requirement – 1

To determine

Performance obligation:

Performance obligation is the promise made by the seller to supply the goods and service to the customer on or before the contract.

To discuss: The basis of contract’s transaction price allocated to its performance obligation.

Answer 7

Chapter 5, Problem 5.4E

Requirement – 1

To determine

Performance obligation:

Performance obligation is the promise made by the seller to supply the goods and service to the customer on or before the contract.

To discuss: The basis of contract’s transaction price allocated to its performance obligation.

Answer 8

Requirement – 2

To determine

To discuss: The indicators that promised goods or service is separately identifiable from other goods and services promised in the contract.

Answer 9

Requirement – 2

To determine

To discuss: The indicators that promised goods or service is separately identifiable from other goods and services promised in the contract.

Answer 10

Requirement – 3

To determine

To discuss: The circumstances for viewed the option as performance obligation.

Answer 11

Requirement – 3

To determine

To discuss: The circumstances for viewed the option as performance obligation.

Answer 12

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Answer 13

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Answer 14

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Answer 15

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Performance obligation: Performance obligation is the promise made by the seller to supply the goods and service to the customer on or before the contract. To discuss: The basis of contract’s transaction price allocated to its performance obligation.

Solution Summary: The author explains that performance obligation is the promise made by the seller to supply the goods and service to the customer on or before the contract.

Performance obligation:

Performance obligation is the promise made by the seller to supply the goods and service to the customer on or before the contract.

To discuss: The basis of contract’s transaction price allocated to its performance obligation.

To discuss: The indicators that promised goods or service is separately identifiable from other goods and services promised in the contract.

To discuss: The circumstances for viewed the option as performance obligation.

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Chapter 5 Solutions