During its first year of operations, a company received $100,000 from investors, had revenues of $350,000 and expenses of $75,000. What income before tax would it report on its income statement $350,000 18 O $275,000 21 O $25,000 24 $375,000 27 Question 15 (1 point) A company entered into a contract to provide accounting services to a new client at an hourly rate of $125 plus HST. The company expects to charge 100 hours per month to the client. What is the journal entry made on the date of the contract signing? BO There is no journal entry required at contract signing. Dr. Accounts Receivable $12.500: Cr. Revenue $12.500 Dr. Accounts Reccivable $14.375: Cr. Revenue $14.375 Dr. Cash $12.500: Cr. Ungamed Revenue Question 16 (1 point) The criteria for recognition of revenue under ASPE include an agreed price, cash changes hands, and obligation substantially complete cash price and obligation substantially complete simply an agreed upon price obligation substantially complete, revenue reliably measurable and collection reasonably assured e 10