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Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 4 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Question 1: In each of the following situations, determine the month in which the business should recognize the revenue: A. On June 5, Jacquie Monahan, an editor, received an advance from a publisher. She performed the work during the period July 8 through July 22. On August 9, Jacquie sent the publisher an accounting of her hours. B. On February 27, Pauls Plumbing placed an advertisement with the Kansas City Tribune. The full page ad ran during the week of March 15-22. The Tribunebilled Pauls Plumbing for the ad on March 7, with payment terms of n/30. Payment was received by the Tribune on April 4. C. On November 25, Bookworm, Inc., sold an encyclopedia to Childrens Learning Center on account. Payment was due on December 25 but was not received until January 15. Question 2: In each of the following situations, determine the dollar amount of the revenue to be recognized: A. Metric Corporation received $10,000 from a customer as a deposit on a special order. B. Pearldine, Inc., shipped a machine to a customer and billed the customer for the remaining amount owed, $30,000. The customer had made a deposit of $8,000 two weeks prior to shipment date
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