Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ABC has invoiced Rs 1,20,000 to the customer in advance for 12 months in Jun'22 of which ABC Ltd. has delivered services worth Rs. 20,000

ABC has invoiced Rs 1,20,000 to the customer in advance for 12 months in Jun'22 of which ABC Ltd. has delivered services worth Rs. 20,000 in Sep'22, 30,000 in Dec'22 & 40,000 in Mar'22. How much revenue would be recognized during the FY2122.

1) Revenue Recognized - 50,000

2) Revenue Recognized - 40,000

3) Revenue Recognized - 90,000

4) Revenue Recognized - 1,20,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Benefit Analysis Concepts And Practice

Authors: Anthony E. Boardman, David H. Greenberg, Aidan R. Vining, David L. Weimer

5th Edition

1108401295, 978-1108401296

More Books

Students also viewed these Accounting questions

Question

Draw a schematic diagram of I.C. engines and name the parts.

Answered: 1 week ago

Question

What is the purpose of the EEOC?

Answered: 1 week ago