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on 1st January 2016 AB LTD sold one of its products, a machine to a customer for 100000
AB LD also agreed to service this product for a 2 year period from 01/01/2016 at no addditional charge.
The sale value of this service has been included in the selling price of the 100,000. AB LTD estimates that the cost of this servicing is 7500 per annum whereas its sale value is 10,000 per annum.
How should we allocate the transaction price in this case ? – Is the Stand alone selling price not readily determinable ?
Please help 🙁
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