This fact pattern provides information needed to answer Q#10 through Q#16. On August 1, Year 1, Hoppy Company agreed to provide consulting service to a large client over a 24-month period. It was agreed that these services would be provided in equal monthly amounts starting on August 1, Year 1. These services were provided as agreed. The aggregate value of all services under this contract was $480,000. In Year 1, Hoppy received $110,000 from this large client. Also in Year 1, Hoppy contracted with a smaller client to provide $24,000 in consulting services during each month for 30 months starting on November 1, Year 1. These services were provided as agreed. The smaller client advanced (paid) Hoppy $30,000 when the contract was signed on November 1, Year 1. In Year 2, both clients received services as required by their contracts. The large client paid Hoppy $300,000 cash in Year 2. The smaller client paid Hoppy $230,000 in Year 2. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All A 115 80 888 u 14 ** * 3 $ 4 % 5 & 7 8 E R. T Y U o D F H J C V B N M. Also in Year 1, Hoppy contracted with a smaller client to provide $24,000 in consulting services during each month for 30 months starting on November 1, Year 1. These services were provided as agreed. The smaller client advanced (paid) Hoppy $30,000 when the contract was signed on November 1, Year 1. In Year 2, both clients received services as required by their contracts. The large client paid Hoppy $300,000 cash in Year 2. The smaller client paid Hoppy $230,000 in Year 2. When doing your calculations you may round numbers to the nearest one hundredth [.01). Enter your final answer in whole numbers without '$' or commas. Do not use a't' sign at the start of a positive numerical answer. If you want to express a negative value, you must do so with a 'sign before the numerical value. Enter O if there is no balance in this account for Year 1. Click Save and Submit to save and submit. Click Save All Answers to save all answers, Save Allan hulu 80 888 3 $ 4 % 5 & 7 6 8 9 O E R T Y U D F H J V B N M . QUESTION 11 When doing your calculations you may round numbers to the nearest one- hundredth 0.01). Enter your final answer in whole numbers without 's' or commas. Do not use a '+' sign in front of a positive numerical answer. If you want to express a negative value, you must do so with a sign before the numerical value. Enter if there is no balance in this account on this date. Q#11. Consulting Accounts Receivable at December 31, Year 1 Click Save and Submit to save and submit. Click Save All Answers to see all answers. 888 * # 3 $ 4 % 5 & 7 6 8 E R T Y U " D F G H J K V B N. M
