Answer:
Performance obligation:
Revenue is recognized by a company if the contractual obligations are satisfied by transferring the goods and services to a customer. A performance obligation must be identified and separated.
The purchase of vacuum cleaner contract gives raise to only one implied performance obligation. The warranty given is not a performance obligation but a quality assurance. And the warranty cost does not satisfy the contractual obligation of sale.
The one-year warranty is given only on the purchase of the vacuum cleaner. This warranty cannot be sold separately.
Therefore. V should recognize this cost as a warranty expense in the period of sale.
The extended warranty for a period of three years is sold separately. This is a separate performance obligation since the warranty for quality assurance is extended beyond the original period of one year.
This warranty can be purchased by customers separately which is priced separately from the product. This extended period warranty is not included in the implied contract.
Therefore, there exists only one performance obligation in the contract.
Answer:
They are known as terms in algebraic expression
Step-by-step explanation:
Answer:
16y+2
Step-by-step explanation:
8x2y=16y
8x1/4=2
Answer:
$467.77
Step-by-step explanation:
CHECK THE COMPLETE QUESTION
Lin is shopping for a couch with her dad and heard him ask the salesperson “how much is your commission?” The salesperson says that her commission is 5 1/2% of the selling price. A.How much commission will the salesperson earn by selling a couch for $495?
B.How much money will the store get from the sale of the couch?
From the question, the commission of the salesperson is 5 1/2 % , we can convert to improper fraction as 11/5%, then we can convert to decimal by dividing the numerator by denominator which is 5.5% , we can convert from percentage by saying(5.5%/100)
= 0.055
A)How much commission will the salesperson earn by selling a couch for $495?
His Commission will be
(0.055 x $495 )
= $27.23
B.How much money will the store get from the sale of the couch?
Since we know this Commission as $27.23, then the amount the store get from sale will be
(difference between the commission and the selling price)
($495.00- $27.23)
= $467.77
