ZuoTi.Pro
Question

Allocating a Transaction Price Seven Flags Park offers a promotion for free parking to customers who...

Allocating a Transaction Price
Seven Flags Park offers a promotion for free parking to customers who purchase a one day pass to enjoy thrill rides at its park plus two meal vouchers for a total of $75. Seven Flags sells each of the contract promises separately during the same time frame for the following standalone prices: Day pass = $45, Parking = $20, and two meal vouchers = $30. Compute the allocated transaction price of the day, two meals, and parking for Seven Flags assuming the sale of 500 promotional packages on July 15, 2020.
*Round each allocated transaction price to the nearest whole dollar.

Performance
Obligations		 Transactions
Price
as Stated		 Standalone
Selling
Price		 Selling
Price
Ratio		 Total Allocated
Transaction Price
(rounded)
Day passes Answer Answer Answer ÷ Answer Answer
Two meals Answer Answer Answer ÷ Answer Answer
Parking Answer Answer Answer ÷ Answer Answer
Answer Answer Answer
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1
Performance Obligations Transactions Price
as Stated		 Standalone Selling Price Selling
Price
Ratio		 Total Allocated Transaction Price (rounded)
Day passes 45 45 45 ÷ 95 17763
Two meals 30 30 30 ÷ 95 11842
Parking 0 20 20 ÷ 95 7895
75 95 37500
0 0
Add a comment
Know the answer?
Add Answer to:
Allocating a Transaction Price Seven Flags Park offers a promotion for free parking to customers who...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Allocating a Transaction Price Seven Flags Park offers a promotion for free parking to customers who...

    Allocating a Transaction Price Seven Flags Park offers a promotion for free parking to customers who purchase a one day pass to enjoy thrill rides at its park plus two meal vouchers for a total of $75. Seven Flags sells each of the contract promises separately during the same time frame for the following standalone prices: Day pass = $45, Parking = $20, and two meal vouchers = $30. Compute the allocated transaction price of the day, two meals, and...

  • Allocating a Transaction Price Seven Flags Park offers a promotion for free parking to customers who...

    Allocating a Transaction Price Seven Flags Park offers a promotion for free parking to customers who purchase a one day pass to enjoy thrill rides at its park plus two meal vouchers for a total of $75. Seven Flags sells each of the contract promises separately during the same time frame for the following standalone prices: Day pass = $45, Parking = $20, and two meal vouchers = $30. Compute the allocated transaction price of the day, two meals, and...

  • Allocating a Transaction Price Seven Flags Park offers a promotion for free parking to customers who...

    Allocating a Transaction Price Seven Flags Park offers a promotion for free parking to customers who purchase a one day pass to enjoy thrill rides at its park plus two meal vouchers for a total of $75. Seven Flags sells each of the contract promises separately during the same time frame for the following standalone prices: Day pass = $45, Parking = $20, and two meal vouchers = $30. Compute the allocated transaction price of the day, two meals, and...

  • Pet Lodge Inc., which offers day and overnight kennel services for pets, is offering a promotion...

    Pet Lodge Inc., which offers day and overnight kennel services for pets, is offering a promotion for new customers signing a contract: purchase 3 overnight stays, a 10-visit day pass punch card, and a new leash for $182. The total transaction price of $182 is stated to the customer as $63 for the overnight stay, $105 for the punch card, and $14 for the leash. Allocate the $182 transaction price under the following separate scenarios. Note: When answering the following...

  • Print Platon Allocating Transaction Price to Performance Obligations and Recording Sales Value Dealership in markets and...

    Print Platon Allocating Transaction Price to Performance Obligations and Recording Sales Value Dealership in markets and sells the vehicles to real customers. Along with a new vehicle purchase, a customer will receive a free annual maintenance contract for one year from the date of purchase. The standalone seling price of a vehicles 130,000 and the standalone selling price for the annual maintenance contract is 3500 During October 2020, Valur Dealership Inc sold vehicles for 530,250 per vehicle, each with a...

  • please answer question #4 The Stratton Township Park The Stratton Township Park is located on a...

    please answer question #4 The Stratton Township Park The Stratton Township Park is located on a piece of property that contains two golf courses, a swimming pool, and 800 acres of woods and open spaces. Three years ago, the Stratton Parks Department (Stratton) carved out miles of trails to allow visitors to hike the property and enjoy nature. To make that experience more enjoyable for visitors and available to school groups, Stratton decided to offer guided tours that have proven...

  • please answer #2 The Stratton Township Park The Stratton Township Park is located on a piece...

    please answer #2 The Stratton Township Park The Stratton Township Park is located on a piece of property that contains two golf courses, a swimming pool, and 800 acres of woods and open spaces. Three years ago, the Stratton Parks Department (Stratton) carved out miles of trails to allow visitors to hike the property and enjoy nature. To make that experience more enjoyable for visitors and available to school groups, Stratton decided to offer guided tours that have proven popular....

  • please answer #5 The Stratton Township Park The Stratton Township Park is located on a piece...

    please answer #5 The Stratton Township Park The Stratton Township Park is located on a piece of property that contains two golf courses, a swimming pool, and 800 acres of woods and open spaces. Three years ago, the Stratton Parks Department (Stratton) carved out miles of trails to allow visitors to hike the property and enjoy nature. To make that experience more enjoyable for visitors and available to school groups, Stratton decided to offer guided tours that have proven popular....

  • Read about Cokes strategy in Africa in the article below and discuss the ethics of selling...

    Read about Cokes strategy in Africa in the article below and discuss the ethics of selling soft drinks to very poor people. Is this an issue that a company like Coke should consider? Africa: Coke's Last Frontier Sales are flat in developed countries. For Coke to keep growing, Africa is it By Duane Stanford Piles of trash are burning outside the Mamakamau Shop in Uthiru, a suburb of Nairobi, Kenya. Sewage trickles by in an open trench. Across the street,...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT