The Pitohui Company is a display advertising agency. On 1 September 20X8 it signed a contract...

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The Pitohui Company is a display advertising agency. On 1 September 20X8 it signed a contract worth CU600,000 to promote a brand of soft drink in four different billboard advertisements. The marketing plan is that these posters will run as a series with each one being released at quarterly intervals. The first poster went up on 1 November 20X8 and the second is due out on 1 February 20X9. In accordance with IFRS 15 Revenue from contracts with customers, what amount of revenue in relation to this contract should be recognised by Pitohui for the year ended 31 December 20X8? The Pitohui Company is a display advertising agency. On 1 September 20X8 it signed a contract worth CU600,000 to promote a brand of soft drink in four different billboard advertisements. The marketing plan is that these posters will run as a series with each one being released at quarterly intervals. The first poster went up on 1 November 20X8 and the second is due out on 1 February 20X9. In accordance with IFRS 15 Revenue from contracts with customers, what amount of revenue in relation to this contract should be recognised by Pitohui for the year ended 31 December 20X8?

Answer rating: 100% (QA)

Total contract price 600... View the full answer