Question
Yard Designs (YD) experienced the following events in Year 1, its first year of operation: On October 1, Year 1, YD collected $34,800 for consulting
Yard Designs (YD) experienced the following events in Year 1, its first year of operation:
- On October 1, Year 1, YD collected $34,800 for consulting services it agreed to provide during the coming year.
- Adjusted the accounts to reflect the amount of consulting service revenue recognized in Year 1.
Ignoring all other future events, what is the amount of service revenue that would be recognized in Year 2?
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Financial Accounting Tools For Business Decision Making
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
8th Edition
1119316022, 978-1119316022
