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I got the unearned fees portion correct. Somehow miscalculated the fees earned. Required information The following information applies to the questions displayed below) Costanza Company
I got the unearned fees portion correct. Somehow miscalculated the fees earned.
Required information The following information applies to the questions displayed below) Costanza Company experienced the following events and transactions during July July 1 Received $3,000 cash in advance of performing work for Vivian Solana. 6 Received $7,500 cash in advance of performing work for Iris Haru. 12 Completed the job for Solana. 18 Received $8,500 cash in advance of performing work for Amina Jordan 27 Completed the job for Haru. 31 None of the work for Jordan has been performed. c. Under each method, determine the amount of earned fees reported on the income statement for July and the amount of unearned fees reported on the balance sheet as of July 31 Under the Under the first method second method Unearned fees Fees earned Required information The following information applies to the questions displayed below) Costanza Company experienced the following events and transactions during July July 1 Received $3,000 cash in advance of performing work for Vivian Solana. 6 Received $7,500 cash in advance of performing work for Iris Haru. 12 Completed the job for Solana. 18 Received $8,500 cash in advance of performing work for Amina Jordan 27 Completed the job for Haru. 31 None of the work for Jordan has been performed. c. Under each method, determine the amount of earned fees reported on the income statement for July and the amount of unearned fees reported on the balance sheet as of July 31 Under the Under the first method second method Unearned fees Fees earned Step by Step Solution
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