Accounting · Revenue from Contracts with Customers
TechCo enters into a contract to provide a software license (transferred at a point in time) and a 3-year maintenance service (transferred over time). The total allocated transaction prices are 93,750 for the license and 6,250 for the maintenance. The contract commences on 1 January Year 1. What is the total revenue recognised upfront by TechCo on 1 January Year 1?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 192,700
- 299,050
- 3100,000
- 493,750✓
Correct answer
93,750
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