Up & Away Airlines has provided the following information regarding cash received for ticket sales in September
Question:
Cash received in September for October flights............$500,000
Cash received in October for October flights............300,000
Cash received in October for November flights...........400,000
Apply the realization principle to determine how much revenue Up & Away Airlines should report in its October income statement.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (11 reviews)
Revenue is recognized when it is earned not necessarily ...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
Question Posted:
Students also viewed these Accounting questions
-
Sky Bound Airlines has provided the following information regarding cash received f or ticket sales in September and October: Cash received in September for October...
-
Wilson Consulting has provided the following information regarding cash payments to its employees in May and June: Salary payments in May for work performed by employees in April........$ 8,000...
-
The Outsider Company, Inc. provided the following information regarding its inventory for the year ended December 31, 2015. It made all of the purchases before any sales transactions for the year....
-
You are the assistant vice president in charge of production for a firm that produces computers. Your firm's production function is f(L,K) = min (L,K) Where L and K are the quantities of the two...
-
In Problems 15-20, use the description of the region R to evaluate the indicated integral. (A) R = {(x, y)|0 ¤ y ¤ 9 - x2, -3 ¤ x ¤ 3} (B) R = {(x, y)|y2 - 4 ¤ x...
-
What is meant by the term culture shock?
-
While designing a mixer-settler extraction system, you obtain a mass transfer correlation from a book. Unfortunately, the book does not explain which model was used. Which model would you use to...
-
Orlandos Arnold Palmer Hospital, founded in 1989, specializes in treatment of women and children and is renowned for its high-quality rankings (top 10% of 2000 benchmarked hospitals), its labor and...
-
Problem 3. (30p) Exercise 7.25 (Fitting copulas to equity return data) writing your own Python code Take daily log-return data from 2015 to 2023 for the following 10 components of the Dow Jones 30...
-
Using scapy to hijack a telnet session and insert your own commands. If easier can provide your program with the packet sequence number. Metasploit VM has a Telnet server that can be attacked. Submit...
-
During March, the activities of Evergreen Landscaping included the following transactions and events, among others. Which of these items represented expenses in March? Explain. a. Purchased a copying...
-
Listed below are eight technical accounting terms introduced in this chapter: Realization principle.................Credit Time period principle..................Accounting period Matching...
-
Circle true or false: 1. An employee may be fired for a good reason, a bad reason, or no reason at all. 2. An employee may be fired if she disobeys a direct order from her boss not to join a labor...
-
A charge + q is located at 6 . 0 0 0 c m , a second charge - 2 q is located at 1 6 . 0 0 c m , and a third charge + q is located at 2 2 . 0 0 c m . The magnitude of a is 2 . 6 5 0 u C . Assume that...
-
Explain two or three points from each document that you feel you need to work on to improve your interpersonal communication skills. Why do you feel you need to work on those points, and how do you...
-
Calculate the value of a six-month European put on oil futures with a strike price of $72? The futures price is currently $70 per barrel, its volatility is 20% p.a., and the risk-free interest rate...
-
Suppose that the only market imperfection comes from the presence of corporate taxes, and that the corporate tax rate is 20%. ABC is a company with cash flows of $100 million every year (i.e., the...
-
Brutus Corporation had an EBIT of $50M in 2018, funded by VC equity. It is looking to optimize its capital structure by adding $30M in debt at an annualized interest rate of 10%. How much tax shield...
-
Explain the importance of new product design and development.
-
Which internal control principle is especially diffi cult for small organizations to implement? Why?
-
Match the data visualization listed with type of data analytics (descriptive, diagnostic, predictive, or prescriptive) it is most associated with. Scatterplot Time series data with forecast ...
-
Listed below are descriptions of six transactions, followed by a table listing six unique combinations of financial statement effects (I is for increase, D is for decrease, and NE is for no effect)....
-
Throughout this text, we have many assignments based on the financial statements of Home Depot, Inc., in Appendix A. Refer to the financial statements to respond to the following items: a. Does the...
-
Throughout this text, we have many assignments based on the financial statements of Home Depot, Inc., in Appendix A. Refer to the financial statements to respond to the following items: a. Does the...
-
0 1 2 3 4 Project A -1,100 600 380 270 340 Project B -1,100 200 315 420 790
-
The mean starting salary of job with certain degree is unknown.Based on a sample of starting salary of25 employees, the mean salary turns out to be $45,750/year. Assume that the population of all...
-
) Is this a significant correlation ( = .05)? What is the p value for this data? How would you report the results of this correlation if were writing a results statement for a formal academic journal?
Study smarter with the SolutionInn App