6% bond issued at discount, market rate is 8%. Interest expense under the effective interest method equals:

Deferred tax liability arises when:

Allocation of transaction price is BEST based on:

Under ASC 606, the guiding concept in determining whether an entity is acting as a principal or an agent is whether the entity:

Variable consideration is included in the transaction price when:

Finance lease expense is generally:

On January 1, Year 1, Park Co. sells equipment to a customer for $500,000. Payment is due in three years on December 31, Year 3. The cash selling price of the equipment is $420,000. Park concludes a significant financing component exists.What amount of revenue should Park recognize on January 1, Year 1 and what is the difference?

Which of the following is NOT a form of variable consideration under ASC 606?

Delta Co. enters into a bill-and-hold arrangement with a customer. The product is complete and ready for shipment, but the customer requests delayed delivery due to lack of warehouse space.  Which of the following is NOT a condition for Delta to recognize revenue before delivery?

In a consignment arrangement, revenue is recognized by the consignor when: