state whether you think a business would recognize the following as revenue.You should select yes or no. 1.Cash sales by a business totalling $20,000 2.Sale of excess equipment by a restaurant shown on the balance sheet as $500 and receiving $350 in cash 3.Hairdressing services for which clients paid cash of $120 4.Sale of goods on credit by a retailer for $180 5.A printer received $200 deposit on an order to print stationery for a client 6.A real estate business receives a $3,000 commission in advance of the sale of a house
state whether you think a business would recognize the following as revenue.You should select yes or no. 1.Cash sales by a business totalling $20,000 2.Sale of excess equipment by a restaurant shown on the balance sheet as $500 and receiving $350 in cash 3.Hairdressing services for which clients paid cash of $120 4.Sale of goods on credit by a retailer for $180 5.A printer received $200 deposit on an order to print stationery for a client 6.A real estate business receives a $3,000 commission in advance of the sale of a house
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 45P: What accounting method (cash or accrual) would you recommend for the following businesses? a. A gift...
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state whether you think a business would recognize the following as revenue.You should select yes or no.
1.Cash sales by a business totalling $20,000
2.Sale of excess equipment by a restaurant shown on the balance sheet as $500 and receiving $350 in cash
3.Hairdressing services for which clients paid cash of $120
4.Sale of goods on credit by a retailer for $180
5.A printer received $200 deposit on an order to print stationery for a client
6.A real estate business receives a $3,000 commission in advance of the sale of a house
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