Lisière sold a laboratory an analysis instrument and training for its staff, two performance obligations. At contract inception, the transaction price was allocated on the basis of stand-alone selling prices: 150,000 to the instrument and 50,000 to the training. Control of the instrument was transferred in 20X1; the training had not started at 31 December 20X1. At the end of 20X1, the resolution of an uncertainty increases by 16,000 the amount of consideration to which Lisière expects to be entitled; this change does not relate specifically to either obligation (case datum). At that date, the instrument would represent only 70 % of the total stand-alone selling prices. Compute the revenue recognised immediately for the instrument and the amount added to the price allocated to the training.
- Price initially allocated to the instrument
- 150,000
- Price initially allocated to the training
- 50,000
- Increase in the transaction price
- 16,000
- Current share of the instrument in the stand-alone selling prices
- 70 %