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Determine the transaction price in the contract

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Question - Butch Tech provides laptop-related maintenance services to Turner. In exchange, Butch Tech received 140 shares of Turner no-par common stock. Determine the transaction price in the contract for the following scenarios:

(a) 140 shares of Turner's stock is traded on an active market for $58,000. The standalone value of the maintenance services is $61,000.

(b) Turner is privately held, making it difficult to estimate the fair value of the shares given in exchange for the maintenance services.

Reference no: EM132456798

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