User Account

All Pages

What was the amount of revenue david should recognize

Assignment Help Financial Accounting
Reference no: EM132505871

David is in the business of sharpening skates for college hockey teams. He signed a contract on August 1, 2019 for $28,000 with Bentley University ("Bentley") to sharpen the team's skates for the 2019-2020 hockey season, which is played from the months of September 2019 through March 2020. The contract states that Bentley will pay David a deposit of $8,000 on August 31, 2019, $8,000 on October 31, 2019, $4,000 on December 31, 2019 and the remaining $8,000 on March 31, 2020. David performed the services as contracted throughout the hockey season.

Question 1: What was the amount of revenue David should recognize for year-end December 31, 2019 on the Bentley contract?

Option A. $0

Option B. $16,000

Option C. $20,000

Option D. $28,000

Reference no: EM132505871

Questions Cloud

What obstacles present themselves as informatics expands : A major obstacle to the global adoption, expansion, and progress of eHealth is the lack of available healthcare workers trained in informatics and adequately.
What is the company budgeted operating income for the month : If the company incurred $125,000 of selling and administrative expenses during July, what is the company's budgeted operating income for the month of July?
Explain the implications of this problem for the stakeholder : Explain the implications of this problem for the stakeholders involved in this home health organization. Be sure to compare and contrast the implications.
Present value of the? ceo compensation increases : If the acquisition destroys $51 million of? GreenFrame's value, but the present value of the? CEO's compensation increases by $6.2 ?million, will he be better o
What was the amount of revenue david should recognize : What was the amount of revenue David should recognize for year-end December 31, 2019 on the Bentley contract? David is in the business of sharpening skates
Prepare a profile of alamos gold inc : Select the organization carefully - ideally it should be one that is relevant to your present or future career. This will be the company you analyze throughout
What amount of revenue should linkedin record for the years : On May 1, 2019, Luke paid LinkedIn $1,200 for his 2-year, What amount of revenue should LinkedIn record for the years of 2019 and 2020?
Discuss the causes of pneumonia in general : Discuss the pathophysiology and causes of pneumonia in general? Compare the defining characteristics of community-acquired pneumonia (CAP), hospital-acquired.
What is the yield to maturity on an 19-year : What is the yield to maturity on an 19-year, zero coupon bond selling for 30% of par value?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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