Use the information presented in BE8-11 for Keyser Woodcrafters but assume that the recourse obligation has a

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Use the information presented in BE8-11 for Keyser Woodcrafters but assume that the recourse obligation has a fair value of $4,000, instead of $8,000. Prepare the journal entry and discuss the effects of this change in the value of the recourse obligation on Keyser’s financial statements.

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Intermediate Accounting principles and analysis

ISBN: 978-0471737933

2nd Edition

Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso

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