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What is the number of performance obligations in contract

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Reference no: EM133053496

Question - Chipotle Inc. grants franchisees the right to operate a franchise using the company's name, menu, and operational procedures. On June 1, a franchisee enters into a 5-year contract with Chipotle and pays a $250,000 initial franchise fee. The franchisee also pays $60,000 for equipment for the restaurant with a delivery date scheduled in 10 days. Per the contract, the franchisee will also pay a royalty equal to 3% of the franchisee sales over the contract life. Chipotle expects monthly sales at the franchise to be $100,000 per month based on extensive historical data. What is the number of performance obligations in the contract?

Reference no: EM133053496

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