Income & Changes in Income

Question 1

Income

Answer 1

Measurement:
Based on value received by cash

D in SOPL:
Revenue

Question 2

1. Revenue from principal activities

Answer 2

Recog:
At time G&S provided coincides with the recog of cash or trade receivables
Measurement:
sale price

D in SOPL:
Sales revenue / fees revenue

Question 3

2. Revenue from principal Activites

Answer 3

Unearned Revenue: at the time of sub
Revenue: as each month pass deduct that amount
Measurement:
Pro Rata
D in SOPL:
Subscriptions revenue / Revenue from premiums

Question 4

Gains from primary Activites

Answer 4

Recog:
Time of birth for livestock …
Measurement:
Market Price

Line item: gain on recognition of livestock