In accordance with IFRS 15, how much is the total revenue for the year ?In accordance with IFRS 15,assuming aside from 10 used ballpens shall be returned, an additional of P 25 shall also be received to avail the correction tape,how much is the total revenue for the year ? Moon Mang-tae Company launched a sales promotional program wherein for every 10 used ballpens purchased arereturned, customers will receive a correction tape. This correction tape is separately sold at P 75. Mang-tae estimatesthat 20% of the ballpens reaching the customers will not be redeemed. Additional information are as follows:UnitsAmount|Sale of ballpensPurchase price of correction tapeCorrection tape distributed to customers500,00055,00030,000P 25,000,0003,575,000

IFRS 15 , International Financial Reporting Standard promulgated by…

Answered: In accordance with IFRS 15, how much is…

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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In accordance with IFRS 15, how much is the total revenue for the year ?

In accordance with IFRS 15,assuming aside from 10 used ballpens shall be returned, an additional of P 25 shall also be received to avail the correction tape,how much is the total revenue for the year ?

Moon Mang-tae Company launched a sales promotional program wherein for every 10 used ballpens purchased are
returned, customers will receive a correction tape. This correction tape is separately sold at P 75. Mang-tae estimates
that 20% of the ballpens reaching the customers will not be redeemed. Additional information are as follows:
Units
Amount
|Sale of ballpens
Purchase price of correction tape
Correction tape distributed to customers
500,000
55,000
30,000
P 25,000,000
3,575,000

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