Business
Business, 27.01.2021 20:10, elijahproctor36

Yard Designs (YD) experienced the following events in Year 1, its first year of operation: a. On October 1, Year 1, YD collected $26,400 for consulting services it agreed to provide during the next 12 months.
b. Adjusted the accounts to reflect the amount of consulting service revenue recognized in Year 1.

Required
Based on this information alone,
a. Record the events under an accounting equation.
b. Prepare an income statement, balance sheet, and statement of cash flows for the 2016 accounting period.
c. Ignoring all other future events, what is the amount of service revenue that would be recognized in 2017?

answer
Answers: 1

Other questions on the subject: Business

image
Business, 22.06.2019 05:30, themaster66644
Financial information that is capable of making a difference in a decision is
Answers: 3
image
Business, 22.06.2019 08:10, gildedav001
The sec has historically raised questions regarding the independence of firms that derive a significant portion of their total revenues from one audit client or group of clients because the sec staff believes this situation causes cpa firms to
Answers: 3
image
Business, 22.06.2019 20:30, allakhalilpea0zc
Caleb construction (cc) incurs supervisor salaries expense in the construction of homes. if cc manufactures 100 homes in a year, fixed supervisor salaries will be $400,000. with the current construction supervisors, cc's productive capacity is 150 homes in a year. however, if cc is contracts to build more than 150 homes per year, it will need to hire additional supervisors, which are hired as full-time rather than temporary employees. cc's productive capacity would then become 200 homes per year, and salaries expense would increase to $470,000. how would cc’s salaries expense be properly classified? fixed variable mixed stepped curvilinear
Answers: 3
image
Business, 22.06.2019 21:30, dondre54
The year-end financial statements of calloway company contained the following elements and corresponding amounts: assets = $34,000; liabilities = ? ; common stock = $6,400; revenue = $13,800; dividends = $1,450; beginning retained earnings = $4,450; ending retained earnings = $8,400. based on this information, the amount of expenses on calloway's income statement was
Answers: 1
Do you know the correct answer?
Yard Designs (YD) experienced the following events in Year 1, its first year of operation: a. On Oc...

Questions in other subjects: