Homework Answers
Answer to 1.
Number of performance obligation is 2.
1st obligation is delivery of Sunboots and 2nd is discount coupon for additional future purchases . Discount coupon qualifies to be an obligation because it gives the right to customer which would otherwise not be given.
Answer to 2.
| Sl No. | Description | Debit | Credit |
|---|---|---|---|
| 1 |
Cash (1000*70 p.u) |
70,000 | |
| Sales Revenue | 61000 | ||
| Deferred Revenue- Discount Coupon | 9000 |
Deferred revenue- Discount Coupon is
1000 pairs* $150 average selling price*30% discount coupon*20% of people who will avail the discount
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Clarks Inc., a shoe retailer, sells boots in different styles. In early November the company starts...
Clarks Inc., a shoe retailer, sells boots in different styles. In early November the company starts...
Clarks Inc., a shoe retailer, sells boots in different styles. In early November the company starts selling "SunBoots" to customers for $60 per pair. When a customer purchases a pair of SunBoots Clarks also gives the customer a 20% discount coupon for any additional future purchases made in the next 30 days. Customers can't obtain the discount coupon otherwise. Clarks anticipates that approximately 10% of customers will utilize the coupon, and that on average those customers will purchase additional goods...
Clarks Inc., a shoe retailer, sells boots in different styles. In early November the company starts selling "Sun Boots"...
Clarks Inc., a shoe retailer, sells boots in different styles. In early November the company starts selling "Sun Boots" to customers for $60 per pair. When a customer purchases a pair of SunBoots, Clarks also gives the customer a 20% discount coupon for any additional future purchases made in the next 30 days. Customers can't obtain the discount coupon otherwise. Clarks anticipates that approximately 10% of customers will utilize the coupon, and that on average those customers will purchase additional...
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answer both please.
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Clarks Inc., a shoe retailer, sells boots in different styles. In early November the company starts selling "SunBoots" to customers for $60 per pair. When a customer purchases a pair of SunBoots Clarks also gives the customer a 20% discount coupon for any additional future purchases made in the next 30 days. Customers can't obtain the discount coupon otherwise. Clarks anticipates that approximately 10% of customers will utilize the coupon, and that on average those customers will purchase additional goods...
Clarks Inc., a shoe retailer, sells boots in different styles. In early November the company starts selling "Sun Boots" to customers for $60 per pair. When a customer purchases a pair of SunBoots, Clarks also gives the customer a 20% discount coupon for any additional future purchases made in the next 30 days. Customers can't obtain the discount coupon otherwise. Clarks anticipates that approximately 10% of customers will utilize the coupon, and that on average those customers will purchase additional...
answer both please.
Clarks Inc., a shoe retailer, sells boots in different styles. In early November the company starts selling "SunBoots" to customers for $75 per pair. When a customer purchases a pair of SunBoots, Clarks also gives the customer a 30% discount coupon for any additional future purchases made in the next 30 days. Customers can't obtain the discount coupon otherwise. Clarks anticipates that approximately 20% of customers will utilize the coupon, and that on average those customers will...
ailer, sells boots in different styles. In early November the company starts selling "SunBoots"' to customers for $65 per pair. When a customer purchases a pair of SunBoots, Clarks future purchases made in the next 30 days. Customers can't obtain the discount coupon otherwise. Clarks anticipates that approximately 20% of customers will utilize the coupon, and that on average those customers will purchase normally sell for $120. also give s the customer a 30% discount coupon for any additional additional...
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