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Use the following to answer questions 17 and 18 (Draw timelines & show your analysis): Zeigler, Inc. signed a three-year contract to perform ratable (equal
Use the following to answer questions 17 and 18 (Draw timelines & show your analysis): Zeigler, Inc. signed a three-year contract to perform ratable (equal monthly) consulting services for Falcon, Inc. (a local customer) starting September 1, 2017. Zeigler received $45,000 cash, as an advance payment for these services, and agreed the work would be performed ratably starting on the above date. Answer the next two questions related to Zeigler, Inc 17. The amount of revenue appearing on the 2017 and 2018 income statements, respectively, would be: a. $45,000 $-0- b. $3,889 / $11,667 d. $5,000 $15,000 c. $3,750/$11,250 18. The amount of cash flow on the 2017 and 2018 Statement of Cash Flows, respectively, would be: a. $5,000 $15,000 b. $-0-/$45,000 c. $15,000 $15,000 d. $45,000/$-0
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