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Dear sir,
May I ask for Specimen Paper 2 Sept 18 Q4 (a) (i),
In this case, KiKi does not have requirement to remit any unused funds to customers if the customers did not redeem upon exipired. Hence, we shall recognised revenue for these unredeemed portion while we recognised the redeemed portion.
What if the company is required to remit any unused funds to customers if the customers did not redeem upon expired, how the answer may differ?
Thanks sir
I would probably not recognise revenue until time for redemption was passed.
How about if unredeemed even after expired date and the company is required to remit any unused fund to the unredeemed customer?
What is the accounting treatment?
thank you sir
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