Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please correct the X boxes with the right info Reverues are normaly recogrized when a company translers promised goods or services to customers in the

please correct the X boxes with the right info image text in transcribed
Reverues are normaly recogrized when a company translers promised goods or services to customers in the amount the company expects to be ertitied to recelve. Expense recopontion is cuided by an atiempt to match the cocts associated with the generation of those reweres to the came time period. Assume that the following transactions occurred in danuary: a. McGrawilit Education ises $3.800 worth of electriciyy and netural gas in its headquarten bullding for which it has not yet been bilied. b. At the beginning of dafiary. Tumet Construction Compary pays $1.350 for magazine advertising to nun in monely poblications each of the first tree months of the year. c. Dell pays lis rompther service techinicians $403,000 in salariv for the heo wewes ended danuary 7 . Answer frem Deils sandobint. wil be ployed in 5 eptemeber Answer frem the universitys standpoint, doys of delvery? t. Durling the lart week of Januaty, the compus bookstare sold 400 accounking texts received in fof of a sales price af 5280 eash Fucilois siandpont. retes. The pagment wi be made in early Febriaty Answer from Fuciloh standpolet. Anwer troan the ie iversily poit of pien Averer from warigs point of view 7. Derek incorsteated ton th deikrery van repaired is jasuary lot $500 ond churges the emeust on account. not been paid to eate. Mowner tom Marters stendooint mearined (x) Answer is complete but not entirely correct. Reverues are normaly recogrized when a company translers promised goods or services to customers in the amount the company expects to be ertitied to recelve. Expense recopontion is cuided by an atiempt to match the cocts associated with the generation of those reweres to the came time period. Assume that the following transactions occurred in danuary: a. McGrawilit Education ises $3.800 worth of electriciyy and netural gas in its headquarten bullding for which it has not yet been bilied. b. At the beginning of dafiary. Tumet Construction Compary pays $1.350 for magazine advertising to nun in monely poblications each of the first tree months of the year. c. Dell pays lis rompther service techinicians $403,000 in salariv for the heo wewes ended danuary 7 . Answer frem Deils sandobint. wil be ployed in 5 eptemeber Answer frem the universitys standpoint, doys of delvery? t. Durling the lart week of Januaty, the compus bookstare sold 400 accounking texts received in fof of a sales price af 5280 eash Fucilois siandpont. retes. The pagment wi be made in early Febriaty Answer from Fuciloh standpolet. Anwer troan the ie iversily poit of pien Averer from warigs point of view 7. Derek incorsteated ton th deikrery van repaired is jasuary lot $500 ond churges the emeust on account. not been paid to eate. Mowner tom Marters stendooint mearined (x) Answer is complete but not entirely correct

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

Students also viewed these Accounting questions