Explain how kaylas accounting services should recognize

Assignment Help Financial Accounting
Reference no: EM133206330

Kaylas accounting service has just invoiced one of its clients $9700 for accounting services provided to the client. Explain how kaylas accounting services should recognize asset and income for this event, justifying your answer by reference to relevant conceptual framework definitions and recognition criteria

Reference no: EM133206330

Questions Cloud

Explain the use of marketing research : Apple Computer, Inc. wants customers to believe that its Apple computers can be used as digital entertainment centres.
Explain the three investment projects : E-saline is a French company that has €770 million of cash resources available at t0. It has identified three investment projects, as follows (all values in € m
Climate crisis in india: heat wave causes water scarcity : You are required to view "BBC Our World India's Water Crisis" and "Climate Crisis in India: Heat Wave Causes Water Scarcity".
What is the standard rate of gst : What is the standard rate of GST? List two items that do not attract GST .
Explain how kaylas accounting services should recognize : Kaylas accounting service has just invoiced one of its clients $9700 for accounting services provided to the client. Explain how kaylas accounting services shou
Explain how it affects your decision to invest in xyz : Using this XYZ cash flow analysis, analyze each of the net cash flows (operating, investment and financing).
Process of plate tectonics between pacific and east asia : Describe in detail the process of plate tectonics between the Pacific and East Asia. Why is Changbai Mountain so unusual, in a geological sense?
Name one monetary policy tool : Name one monetary policy (MP) tool that is used to influence short-term interest rate and name one MP tool that is used to influence long-term interest rate.
Calculate ucc as of december : Midway through 2019 the company realized that the Oshawa facility lacked the necessarystorage space to accomodate it expanding inventory.They reached out to a l

Reviews

Write a Review

Financial Accounting Questions & Answers

  Discuss four advantages of credit

How would you explain to your friends that they are both right and wrong? In your answer, discuss at least 4 advantages and 4 disadvantages of credit.

  What is the re-measurement loss for the current year

At the beginning of the current year, Tarvis Inc. had a projected benefit obligation of 10,000,000. What is the re-measurement loss for the current year

  Depreciation is a process of asset valuation

Identify each statement as true or false. 1. Depreciation is a process of asset valuation, not cost allocation. FalseTrue

  What is the balance of lessee company lease liability

On January 1, 20X1,What is the balance of Lessee Company's lease liability immediately after the January 1, 20X2 payment was made?

  Why do managers engage in treasury stock transaction

What is a treasury stock? Why do managers engage in treasury stock transaction? Explain. Purchase of 10,000 shares of $10 par value at $80 per share ($800,000)

  The expected change in variable expenses takes place

Northwood Company manufactures basketballs. The company has a ball that sells for $30. At present, the ball is manufactured in a small plant that relies heavily on direct labor workers. Thus, variable expenses are high, totaling $21.00 per ball, of w..

  Whats some of more significant non-tax and tax consequence

What are some of the more significant non-tax and tax consequences of choosing the partnership form? Which do you think is the most important? Why?

  Identify and analyze the adjustment

For each of the preceding situations, identify and analyze the adjustment to be recorded on December 31, 2014.

  Adjusting entry to record bad debt expense

Accounting for Receivables and Bad Debts Assignment - Write-offs of uncollectible accounts for the year and Adjusting entry to record Bad Debt Expense

  Prepare the research account for the two years

Wawasan Sdn. Bhd. paid the following expenditure on research for the year ended 28 February 2019 and 2020: Prepare the research account for the two years

  What do you understand by the term payroll compliance

Question - What do you understand by the term payroll compliance? Describe year end payroll process briefly

  Market a one year futures price is currently traded

A one year European put option and a one year European call option with a strike price of $59 are both priced at $5 in the market a one year futures price is currently traded at $58. The risk free rate is 7% per annum. Is there an arbitrage opportuni..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd