On january 1, 2017, loud company enters into a 2-year contract with a customer for an unlimited talk and 5 gb data wireless plan for $65 per month. the contract includes a smartphone for which the customer pays $299. loud also sells the smartphone and monthly service plan separately, charging $649 for the smartphone and $65 for the monthly service for the unlimited talk and 5 gb data wireless plan. on july 1, 2017, the customer realizes that she needs less data in her wireless plan and downgrades to the unlimited talk and 2 gb data plan for the remaining term of the contract (18 months). the unlimited talk and 2 gb data plan is priced at $55 per month. the $55 per month is loud’s current stand-alone price for this plan that is available to all customers. required: 1. how should loud account for this contract modification? 2. provide loud’s new monthly revenue recognition journal entry. how should loud account for this contract modification? additional instructionthe contract modification does not add goods or services to the arrangement; therefore, this modification cannot be treated as a separate contract. however, to determine the appropriate accounting for the modification, the entity has to assess whether the remaining goods and services (18 months of service) are distinct from the goods and services already provided to the customer (handset and 6 months of services).on july 1, the contract receivable has a remaining balance of a result, the entity has to allocate to the remaining 18 months of service, or per month.
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Business, 21.06.2019 21:30, nickespinosa11
Gary becker's controversial the economics of discrimination concludes that price discrimination has no effect on final profits. price discrimination benefits monopolies. labor discrimination in hiring results in more efficient allocations of production. discrimination in hiring practices has no effect on final profits. labor discrimination harms firms that practice it due to increased labor costs. price discrimination harms monopolies, which refutes over two centuries of economic theory.
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Business, 21.06.2019 23:30, probablyacommunist
Using the exxon data as an example what would be the market capitalization of penny's pickles if each share is selling for $175.35?
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On january 1, 2017, loud company enters into a 2-year contract with a customer for an unlimited talk...