Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 3 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 29 Jul 2017 My Price 9.00

measure income properly

(Learning Objective 2: Apply the revenue and expense recognition principles) Identify the accounting concept or principle that gives the most direction on how to account for each of the following situations:

a. Salary expense of $48,000 is accrued at the end of the period to measure income properly.

b. March has been a particularly slow month, and the business will have a net loss for the second quarter of the year. Management is considering not following its customary practice of reporting quarterly earnings to the public.

c. A physician performs a surgical operation and bills the patient’s insurance company. It may take three months to collect from the insurance company. Should the physician record revenue now or wait until cash is collected?

d. A construction company is building a highway system, and construction will take four years. When should the company record the revenue it earns?

e. A utility bill is received on December 27 and will be paid next year. When should the company record utility expense?

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Jul 2017 09:07 PM My Price 9.00

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