Question

Exercise 18-29 In September 2017, Ivanhoe Corp. commits to selling 155 of its iPhone-compatible docking stations to Better Buy Co. for $15,965 ($103 per product). The stations are delivered to Better Buy over the next 6 months. After 94 stations are delivered, the contract is modified and Ivanhoe promises to deliver an additional 44 products for an additional $4,312 ($98 per station). All sales are cash on delivery. Prepare the journal entry for Ivanhoe for the sale of the first 94 stations. The cost of each station is $59. (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 0 for the amounts.) Account Titles and Explanation Debit Credit (To record sales) (To record cost of goods sold) SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry for the sale of 10 more stations after the contract modification, assuming that the price for the additional stations reflects the standalone selling price at the time of the contract modification. In addition, the additional stations are distinct from the original products as Ivanhoe regularly sells the products separately. (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 0 for the amounts.) Account Titles and Explanation Debit Credit (To record sales) (To record cost of goods sold) SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry for the sale of 10 more stations (as in (b)), assuming that the pricing for the additional products does not reflect the standalone selling price of the additional products and the prospective method is used. (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 0 for the amounts. Round answers to 2 decimal places, e.g. 1,525.25.) Account Titles and Explanation Debit Credit (To record sales) (To record cost of goods sold) Click if you would like to Show Work for this question: Open Show Work

Answer 1

oxeariise 18-9 pupane he ena y feo Sunland fa thu Sel, f the Aist 4 Stcuthont. The cest of each Sta-tlon Ju sp 0 $1682 9662 CTO uud old goods sold s 546 5,546 separ the younal enhty the salo of to the adatonal Strhon vat iu standalore 3db thu con hout rodni cathon.th addtien the adáthional Conh e tHime of segulasly sels thu podts sepasataluy cunti fitte a d.. Охра Coyh 1030 SRo tet t goodi sold (79 arted cat 다 goody ddd)

Explanation:- 坏thix Situation, the Conhad moee4i(ation-43. the and Seposa butoulyexishng Conholled prepouu thu jounal enty fe the Sala lo mee. theat tha tha osai- fonal p method Und 1,009 ca ot goods Sold Inventoty 4510 Sao Sxplanation a stand- almg porilu, Stinlad op auocat a chon eK amount allocats d to

tfhu datt et moctifecathon pnospeve appcachSunland op diteine $ 6,283 prodeceti tTo e dleliveu d 4,312 00.o