Date | Account Titles and Explanation | Debit | Credit | |
Jan 2, 2017 | Cash | $52,300 | ||
Unearned Service Revenue - Internet | $29,585 | ($323/$571 x $52,300) | ||
Sales Revenue | $22,715 | ($248/$571 x $52,300) | ||
(To record sales) | ||||
Cost of Goods Sold | $17,800 | ($178 x 100) | ||
Inventory | $17,800 | |||
(To record cost of goods sold) | ||||
Dec 31, 2017 | Unearned Service Revenue - Internet | $9,862 | ($29,585/3 years) | |
Service Revenue | $9,862 | |||
Date | Account Titles and Explanation | Debit | Credit | |
Jan 2, 2017 | Cash | $126,600 | ||
Unearned Service Revenue - Internet | $57,111 | ($323/$716 x $126,600) | ||
Unearned Service Revenue - Maintenance | $25,638 | ($145/$716 x $126,600) | ||
Sales Revenue | $43,850 | ($248/$716 x $52,300) | ||
(To record sales) | ||||
Cost of Goods Sold | $35,600 | ($178 x 200) | ||
Inventory | $35,600 | |||
(To record cost of goods sold) | ||||
Dec 31, 2017 | Unearned Service Revenue - Internet | $19,037 | ($57,111/3 years) | |
Unearned Service Revenue - Maintenance | $8,546 | ($25,638/3 years) | ||
Service Revenue | $27,583 | |||
Date | Account Titles and Explanation | Debit | Credit | |
Jan 2, 2017 | Cash | $52,300 | ||
Unearned Service Revenue - Internet | $27,500 | Balance | ||
Sales Revenue | $24,800 | ($248 x 100) | ||
(To record sales) | ||||
Cost of Goods Sold | $17,800 | ($178 x 100) | ||
Inventory | $17,800 | |||
(To record cost of goods sold) | ||||
Dec 31, 2017 | Unearned Service Revenue - Internet | $9,167 | ($27,500/3 years) | |
Service Revenue | $9,167 | |||
Sarasota Company sells tablet PCs combined with Internet service, which permits the tablet to connect to...
Pronghorn Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms. 1. Pronghorn Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $455. The standalone selling price of the tablet is $234 (the cost to Pronghorn Company is $171). Pronghorn Company sells...
Ayayai Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms. 1. Ayayai Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $520. The standalone selling price of the tablet is $238 (the cost to Ayayai Company is $170). Ayayai Company sells...
Blossom Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms. 1. Blossom Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $506. The standalone selling price of the tablet is $234 (the cost to Blossom Company is $167). Blossom Company sells...
Wildhorse Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms. 1. Wildhorse Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $464. The standalone selling price of the tablet is $229 (the cost to Wildhorse Company is $172). Wildhorse Company sells...
Carla Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms. 1. Carla Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $505. The standalone selling price of the tablet is $263 (the cost to Carla Company is $160). Carla Company sells...
Wildhorse Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms. 1. Wildhorse Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $523. The standalone selling price of the tablet is $248 (the cost to Wildhorse Company is $178). Wildhorse Company sells...
Crane Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms. 1. Crane Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $494. The standalone selling price of the tablet is $225 (the cost to Crane Company is $176). Crane Company sells...
Stellar Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms. 1. Stellar Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $455. The standalone selling price of the tablet is $234 (the cost to Stellar Company is $171). Stellar Company sells...
Problem 18-1 (Part Level Submission) Pronghorn Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms. 1. 2. Pronghorn Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $455. The standalone selling price of the tablet is $234 (the cost to Pronghorn...
Problem 18-01 (Part Level Submission) Grouper Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms. 1. Grouper Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $491. The standalone selling price of the tablet is $246 (the cost to Grouper Company...