7. Seattle Company sells boats for P300,000 each. Seattle Company also provides mooring facilities for P20,000...

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7. Seattle Company sells boats for P300,000 each. Seattle Company also provides mooring facilities for P20,000 per annum. Seattle Company sells these goods and services separately. If the purchaser of a boat to buy mooring facilities for a year there is a 5% discount on the whole package, thus the package costs P320,000 less P16,000 (5% discount). On July 1, 2022 Seattle Company has sold 2 boats for a package. On December 1, 2022, Seattle Company has also sold 2 boats for a package price. a. What amount of revenue from sale of boats should Seattle report in its December 31, 2022 profit or loss? b. What amount of mooring revenue should Seattle Company report in its December 31, 2022 profit or loss? 7. Seattle Company sells boats for P300,000 each. Seattle Company also provides mooring facilities for P20,000 per annum. Seattle Company sells these goods and services separately. If the purchaser of a boat to buy mooring facilities for a year there is a 5% discount on the whole package, thus the package costs P320,000 less P16,000 (5% discount). On July 1, 2022 Seattle Company has sold 2 boats for a package. On December 1, 2022, Seattle Company has also sold 2 boats for a package price. a. What amount of revenue from sale of boats should Seattle report in its December 31, 2022 profit or loss? b. What amount of mooring revenue should Seattle Company report in its December 31, 2022 profit or loss?

Answer rating: 100% (QA)

a The revenue from the sale of boats that Seattle Company should repo... View the full answer