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Electronics Inc. buys and sells photocopy equipment that are used in businesses across Ontario. The company follow IFRS. Unit selling prices range from $10,000 to $100,000.
You need to do is :
Problem 1: Prepare the journal entries for 2020 and 2021. If there is no entry be sure to state no entry. Hint remember to allocate the revenue among the different performance obligations and then use this information when you prepare the journal entries.
Problem 2: List the performance obligations?
Problem 3: Explain when the revenue should be recognized for each performance obligation under IFRS. Support your answer by explaining why it should be recognized at the time you selected
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from books of aggarwal bors following information has been extracted rs. sales 240000 variable costs 144000 fixed costs
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Create formula to express the behaviour of the firm's production costs. (Use the form Y = a + bX, where X denotes the quantity of sausage produced.)
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