Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 24 Aug 2017 My Price 7.00

accrual basis

Brief Exercise 4-2 Accrual Basis of Accounting

For the following situations, indicate the date on which revenue would be recognized, assuming the accrual basis of accounting.

                    a. On June 10, a customer orders a product over the phone. The product is shipped to the customer on June 14, and the customer pays the amount owed on July 10.

                    b. On March 15, a law firm agrees to draft a legal document for a client. The docu- ment is completed and delivered to the client on April 5, and the client pays the amount owed on May 2.

                    c. A homeowner signs a contract on August 6 to have a company install a central air conditioning system. The work is completed on August 30, and the home- owner pays the amount owed on September 25.

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Maurice Tutor
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Status NEW Posted 24 Aug 2017 11:08 PM My Price 7.00

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