Non cash consideration received from customer should be:
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter17: Advanced Issues In Revenue Recognition
Section: Chapter Questions
Problem 20GI: If the sellers performance creates on asset (e.g., work in progress) that the customer controls as...
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Non cash consideration received from customer should be:
- Recognized on the basis of original cost paid by the customer
- Recognized on the basis of fair value of what is received
- Recognized on the basis of fair value of equivalent goods or services
- Recognized on the basis of fair value of what is given up
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