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babesitter09 babesitter09
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5 years ago
Using the above information and assuming that Sidekick allocates consideration based on relative standalone selling prices, determine the allocation of the total consideration to the computer services and the consulting.
Textbook 
Intermediate Accounting

Intermediate Accounting


Edition: 1st
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#1
5 years ago
 

Contract
ComponentStandalone Selling
PricesPercentage
Allocation of
Total Contract ConsiderationAllocation of
Annual Lease Payment
Server (Computer Equipment): Lease Component$750,00075%75%  $2,000,000 =
$1,500,00075%  $400,000 =
$300,000
Consulting and Training Services: Nonlease Component250,00025%25%  $2,000,000 = 500,000 25%  $400,000 = 100,000
$1,000,000100%$2,000,000$400,000
babesitter09 Author
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#2
5 years ago
My teacher is very rude and likes to speed his way through a lesson without letting the class ask questions. Thank you for helping me. You're a life saver Slight Smile
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