Joni Shamrock Inc. has the following amounts reported in its general ledger at the end of the current year. Organization costs $23,600 Trademarks 15,300 Discount on bonds payable 36,600 Deposits with advertising agency for ads to promote goodwill of company 11,600 Excess of cost over fair value of net identifiable assets of acquired subsidiary 76,600 Cost of equipment acquired for research and development projects; the equipment has an alternative future use 86,600 Costs of developing a secret formula for a product that is expected

Telecom co. enters into a two-year contract with a customer to provide wireless service (voice and data) for $40 per month. to induce customers, telecom co. provides a free phone. telecom co. normally sells the phone on a stand-alone basis for $200. telecom co. also charges the customer a one-time activation fee of $35.which of the following is true? a) there are two distinct performance obligations: the voice service and the data service b) the free phone constitutes as a marketing expense c) the activation fee is a separate performance obligationd) there are two distinct performance obligations: the wireless services and the phone