How transaction has been treated in the financial statements

Assignment Help Financial Accounting
Reference no: EM132671916

Problem 1: There are a number of customers that have ordered and paid for consulting services to be delivered in July 2020. The total value of the orders amounted to R37000. Can you explain in detail how this transaction has been treated in the financial statements, for year ended June 2020?

Reference no: EM132671916

Questions Cloud

Calculate the current year annual depreciation expense : On January 1, 2020, purchase equipment costing $20,200 with an estimated life of five years. Calculate the current year annual depreciation expense
Describe required tools needed for effective assessment : Describe the required tools needed for an effective assessment. What are some common mistakes and errors that occur when preparing for a security assessment?
How the financial asset is recognised : Discuss how the financial asset is recognised and measured in the year ended 30 September 2020, with calculations.
Evaluate the academic and practitioner literature : Evaluate the academic and practitioner literature as it applies to the client organization. Create a detailed outline and implementation of the Action Plan.
How transaction has been treated in the financial statements : There are a number of customers that have ordered, How the transaction has been treated in the financial statements, for year ended June 2020?
What are the pros and cons for children playing outside : What are the pros and cons for children playing outside? What are the pros and cons for children playing inside with technology?
Define the 3 types of resiliency : A. Define PTG B. Define the 3 types of Resiliency found in the research for PTG
Evaluate forces that shape the organizational environment : Choose one company (other than Google, Facebook, or Verizon) that you believe would be an ideal company to work for based on working conditions, salary.
How many shares are issued and outstanding on august : How many shares are issued and outstanding on August 31, 2018? February 11 Issued 5,000 shares for an equipment with a fair value of P65,000.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Find the value of ending inventory was

On 27 July 500 units from beginning inventory and 1,000 units from the 12 July purchase were sold. The value of ending inventory was

  What amount should acme report

Acme had five employees, each of whom earned $20,000 during 2011. In its December 31, 2011 balance sheet, what amount should Acme report as accrued liability for unemployment claims?

  How much do firms market and book values per share differ

Tucker Electronic System's current balance sheet shows total common equity of $3,125,000. The company has 125,000 shares of stock outstanding, and they sell at a price of $52.50 per share. By how much do the firm's market and book values per share di..

  Compute accounts receivable turnovers for nucor and ak steel

Calculate the accounts receivable turnovers for Nucor and AK Steel for 2007 and 2008. Describe the likely reasons for the differences in the accounts receivable turnovers for these two firms.

  Prepare the stockholders equity section of selin company

Prepare the stockholders' equity section of Selin Company's December 31, 2017, balance sheet. Prepare the journal entry to record the issuance of the bonds.

  Prepare webb trucking company classified balance sheet

Use the above adjusted trial balance to prepare Webb Trucking Company classified balance sheet as of December 31, 2011.

  Decision as well as irrelevant costs and sunk costs

Pretend you are a manager of Ford Motor Company. You have been asked to determine whether a product (one of your choosing) should be manufactured in-house or outsourced to another vendor. Discuss the relevant costs you would consider for this decisio..

  Prepare all the journal entries - wastewater limited

Prepare all the journal entries that Wastewater Limited would prepare for the years ending 30 June 2013, 30 June 2014 and 30 June 2015 to account

  Demonstrate how much will the preferred shareholders receive

At December 31, 2020, the board of directors wants to distribute $125,000 in dividends. How much will the preferred shareholders receive

  Find what means to be price-setter or price-taker

Find In your memo, be sure to first provide a brief discussion of what it means to be price-setter or price-taker. List the pros and cons of each one.

  Compute life corporation operating expense for the month

Cash paid by LIFE corporation for operating expenses Compute LIFE corporation operating expense for month of October year 10, under accrual basis of accounting.

  Finding sample size of 99 confidence levelif the confidence

finding sample size of 99 confidence level.if the confidence level is increased to 99 would the sample size needed

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