In note 4.6, AF indicates that Both passenger and cargo tickets are recorded as Deferred revenue on
Question:
a. Examine AF's balance sheet. What is the total amount of deferred revenue on ticket sales as of December 31, 2013?
b. When transportation services are provided with respect to the deferred revenue on ticket sales, what journal entry would AF make to reduce deferred revenue?
c. Does AF's treatment of deferred revenue under IFRS appear consistent with how these transactions would be handled under U.S. GAAP? Explain.
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Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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