Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 15, 2024

Your business exchanged accounting services, worth $30,000, to Luna Inc. for equipment worth $15,000 at the date of the exchange. How much revenue should your

Your business exchanged accounting services, worth $30,000, to Luna Inc. for equipment worth $15,000 at the date of the exchange. How much revenue should your business report as a result of the transaction?

$45,000

$0 because no cash was paid.

$30,000

$15,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microfinance

Authors: Gianfranco A. Vento, Mario La Torre

4th Edition

1403997896, 9781403997890

More Books

Students also viewed these Accounting questions

Question

★★★★★

A bacteria culture initially contains 100 cells and grows at a rate proportional to its size. After an hour the population has increased to 420. (a) Find an expression for the number of bacteria...

Answered: 1 week ago

Question

★★★★★

Explain why a companys net income is not normally equal to its cash flows from operating activities.

Answered: 1 week ago

Question

★★★★★

=+b) Explain how the coefficients of Small, Large, and Very Large account for the size of the city in this model.

Answered: 1 week ago

Question

★★★★★

Beta Corporation is in the process of completing a contract to produce 150 units for a given customer. The contract consisted of R&D, testing and qualification, and full production. The industrial...

Answered: 1 week ago

Question

★★★★★

Q1b: A company reports the following information about its performance: Years 2021 2020 2019 334 329 375 Cash flow from operations (m) Accruals (m) 290 230 180 In the table above, accounting accruals...

Answered: 1 week ago

Question

★★★★★

Use the following account balances from the adjusted trial balance of Gees Catering: Account Debit Balance Credit Balance Cash 10,000 Accounts payable 2,000 R. Gees, Capital 18,000 R. Gees, Drawing...

Answered: 1 week ago

Question

★★★★★

Need full calculation with diagrams solution full accurate clean handwriting. GENERAL DIRECTIONS: Solve the given problems below. Writeyour answer on the space provided and box your final answer. Use...

Answered: 1 week ago

Question

★★★★★

2. An acclaimed restaurant, Fleur De Lys is interested in knowing if their diners spend more on weekends than weekdays. To determine this, random samples of 36 weekend diners and 36 weekday diners...

Answered: 1 week ago

Question

★★★★★

Imagine a company that is trying to fill a manager position based on the behavioral approach of leadership. Would they focus more on selection or development?

Answered: 1 week ago

Question

★★★★★

R is required for this question. Can someone walk me through the steps? Open the prostate data from the faraway package. Model lpsa as the response and all other variables as predictors. Implement...

Answered: 1 week ago

Question

★★★★★

In the "Implications for public health" the researchers suggest various steps that could be taken to prevent bystanders from drowning when attempting a rescue. (They use the term bystander even when...

Answered: 1 week ago

Question

★★★★★

4. What are unfair labour practices? What are the consequences of unfair labour practices? Use examples to explain your answer.

Answered: 1 week ago

Question

★★★★★

2. What major HR issues must be addressed as an organization moves from an international form to a multidomestic, global, and transnational form?

Answered: 1 week ago

Question

★★★★★

OUTCOME 2 Explain why employees join unions and describe the process by which unions organize employees and gain recognition as their bargaining agent.

Answered: 1 week ago

Previous Question Next Question