XYZ Co . has a contract to sell 5 0 backpacks to a customer for $ 8
Fantastic news! We've Found the answer you've been seeking!
Question:
XYZ Co has a contract to sell backpacks to a customer for $$ per backpack over a sixmonth period. After backpacks have been delivered, XYZ agrees to modify the contract by promising to deliver additional backpacks of the same type for $ or $ per backpack which is the standalone selling price of the products for XYZ at the time of the contract modification
XYZ wants to consider the modification as part of the original contract rather than a separate contract. Where in the Codification can this treatment be justified?
Where in the Codification does it indicate the correct amount of revenue for XYZ to recognize for the next backpacks sold to the customer? How much will it be
Related Book For
Posted Date: