MC 6.05 Indicator revenue for service recognized over time?
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Asks which is indicator for revenue recognized over time?
Asks which is indicator for revenue recognized over time?
They tell you Boomerang Computer Company sells computers and has an unconditional right to return computers and has history with precise estimates of returns. Asks when should recognize revenue.
Asks for journal entry for payment date.
They give you some dates about receiving an order, delivering cupcakes, getting deposit and paying balance and ask when they would record revenue.
The ask about IFRS for secured borrowing vs a sale, the important element is what?
They tell you company sells used videogames and has a one-week return right. Asks how to recognize the liability.
Suppose a contract for sale of goods states payment is to be made 4 months after delivery. Seller’s action, with respect to the time value of money over the life of the contract?
Contracts which include more than one performance obligation:
Which is not indicator the customer is likely to have control for a good?