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CPA(U) Final Level Practice Questions - ICPAU Certified Public Accountant Of Uganda Final Level Exam

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An entity enters into a contract to sell a specialized machine and a 2-year maintenance contract for a total price of UGX 120,000,000. Stand-alone selling prices are UGX 100,000,000 for the machine and UGX 25,000,000 for the maintenance contract. Under IFRS 15 (Revenue from Contracts with Customers), what revenue should be allocated to the machine?
Correct Answer:
UGX 96,000,000

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