Page 370 - FR Integrated Workbook 2018-19
P. 370
Chapter 24
Example 3 cont.
Revenue for the machine may be recognised on delivery, revenue in respect
of the support will be spread over the two-year period.
Revenue to be recognised in year ended 31 December 20X7:
$
Machine $270,000 in full 270,000
Support $126,000 × 4/24 21,000
———–
Total revenue recognised 291,000
———–
364