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Transaction price
Presented below are three revenue recognition situations:
a) Bliss sells goods to Jusu for $ 10,000 payment due at delivery.
b) Bliss sells goods on account to Saanich for $ 23,000 payment due in 30 days.
c) Bliss sells goods to Nourish for $ 50,000 due in two instalments: the first instalment payable in 20 months, and the second payment due 4 months later. The present value of the future payments is $ 47,000.
Instructions
Indicate the transaction price for each of these transactions and when revenue will be recognized.
Socially Approved
Accepted by society or conforming to the norms and values that the majority of society agrees on.
Heterosexuality
A sexual orientation characterized by a romantic or sexual attraction to individuals of the opposite sex.
Disciplined Sexual Identity
A concept regarding how societal norms and expectations shape and regulate individuals' sexual identities and behaviors.
Foucault
A French philosopher and social theorist known for his analysis of power relations in society and his studies on various social institutions.
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