Question: Hello, this is from my teacher training doc for the exam, can you help me out because I don't get his correction. Thanks Question 2

Hello, this is from my teacher training doc for the exam, can you help me out because I don't get his correction. Thanks

Question 2 (6 points) IFRS 15 requires the entity accounts for separate performance obligations if a bundle of goods or services in a contract are distinct. TEL enters into contract with Customer S for a two-year wireless service plan. In the contract, it is clearly stated that: -Customer S purchases a phone from TEL for 450 euros. -TEL provides wireless service for customer S at the price of 10 euros per month. This will last for 24 months. The stand-alone selling price of the phone is 300 euros. The stand-alone selling price for wireless service is 20 euros per month. Required: (Please keep two digits after the decimal point) (a) What are the separate performance obligations in the above contracts? (2 point)(b) Please calculate the revenue belongs to each performance obligation (c) When the revenue on each performance obligation has to be recognized

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