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On 1/09/2017 ABC Company received $37,500 from customer X for services to be performed evenly over a 12 months period starting 1/11/2017. In addition, on
On 1/09/2017 ABC Company received $37,500 from customer X for services to be performed evenly over a 12 months period starting 1/11/2017. In addition, on 1/10/2017 ABC received $14,850 from customer Y for services to be performed evenly over an 18 months starting 1/11/2017
Based on the above given information, answer the following questions:
What is the amount revenue that must be presented on the income statement for the 2017?
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What is the amount of TOTAL unearned revenue that must be presented on the statement of financial position as on 31/12/2017?
The Answer is: Answer
What is the amount revenue that must be presented on the income statement for the 2018?
The Answer is: Answer
What is the amount of TOTAL unearned revenue that must be presented on the statement of financial position as on 31/12/2018?
The Answer is: Answer
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Managerial Accounting
Authors: John Wild, Ken Shaw
6th Edition
9781259726972
