Business, 27.03.2020 21:32 sudotoxic

Monty 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.Monty 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 Monty Company is $172). Monty Company sells the Internet access service independently for an upfront payment of $290. On January 2, 2017, Monty Company signed 100 contracts, receiving a total of $46,400 in cash.2.Monty Bundle B includes the tablet and Internet service plus a service plan for the tablet PC (for any repairs or upgrades to the tablet or the Internet connections) during the 3-year contract period. That product bundle sells for $563. Monty Company provides the 3-year tablet service plan as a separate product with a standalone selling price of $154. Monty Company signed 190 contracts for Monty Bundle B on July 1, 2017, receiving a total of $106,970 in cash. a. Prepare any journal entries to record the revenue arrangement for Monty Bundle A on January 2, 2017, and December 31, 2017DateAccount Titles and . 2, 2017Jul. 1, 2017Dec. 31, 2017(To record sales)(To record cost of goods sold)Jan. 2, 2017Jul. 1, 2017Dec. 31, 2017b. Prepare any journal entries to record the revenue arrangement for Monty Bundle B on July 1, 2017, and December 31, 2017.DateAccount Titles and . 2, 2017Jul. 1, 2017Dec. 31, 2017(To record sales)(To record cost of goods sold)Dec. 31, 2017c. Repeat the requirements for part (a), assuming that Monty Company has no reliable data with which to estimate the standalone selling price for the Internet serviceDateAccount Titles and . 2, 2017Jul. 1, 2017Dec. 31, 2017(To record sales)(To record cost of goods sold)Jan. 2, 2017Jul. 1, 2017Dec. 31, 2017

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 21:00

John novosel was employed by nationwide insurance company for fifteen years. novosel had been a model employee and, at the time of discharge, was a district claims manager and a candidate for the position of division claims manager. during novosel's fifteenth year of employment, nationwide circulated a memorandum requesting the participation of all employees in an effort to lobby the pennsylvania state legislature for the passage of a certain bill before the body. novosel, who had privately indicated his disagreement with nationwide's political views, refused to lend his support to the lobby, and his employment with nationwide was terminated. novosel brought two separate claims against nationwide, arguing, first, that his discharge for refusing to lobby the state legislature on behalf of nationwide constituted the tort of wrongful discharge in that it was arbitrary, malicious, and contrary to public policy. novosel also contended that nationwide breached an implied contract guaranteeing continued employment so long as his job performance was satisfactory. what decision as to each claim?

Answers: 3

Answer

Business, 22.06.2019 09:30

An object that is clicked on and takes the presentation to a new targeted file is done through a

Answers: 2

Answer

Business, 22.06.2019 14:30

Your own record of all your transactions. a. check register b. account statement

Answers: 1

Answer

Business, 22.06.2019 19:00

The following are budgeted data: january february march sales in units 16,200 22,400 19,200 production in units 19,200 20,200 18,700 one pound of material is required for each finished unit. the inventory of materials at the end of each month should equal 20% of the following month's production needs. purchases of raw materials for february would be budgeted to be:

Answers: 3

Answer

You know the right answer?

Monty Company sells tablet PCs combined with Internet service, which permits the tablet to connect t...

Questions