How does the recognition of revenue earned on account affect the income statement compared to its effect
Question:
How does the recognition of revenue earned on account affect the income statement compared to its effect on the statement of cash flows?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (12 reviews)
The recognition of revenue on account incre...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
Question Posted:
Students also viewed these Business questions
-
How does the recognition of revenue on account (accounts receivable) affect the income statement compared to its effect on the statement of cash flows?
-
How does the recognition of an asset retirement obligation impact periodic depreciation expense? Interest expense?
-
Judy Schaeffer is getting up to speed on the new guidance on revenue recognition. She is trying to understand the revenue recognition principle as it relates to the five-step revenue recognition...
-
The accompanying table shows proportions of computer salespeople classified according to marital status and whether they left their jobs or stayed over a period of 1 year. a. What is the probability...
-
How can companies use deferred compensation to avoid the 162(m) limitation on salary deductibility?
-
Cineplex Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to each segment is available for 2019. Sales of...
-
Discuss the major modes of value realization in terms of full and partial harvesting. What are the key advantages and disadvantages of each method?
-
The individual financial statements for Gibson Company and Keller Company for the year ending December 31, 2011, follow. Gibson acquired a 60 percent interest in Keller on January 1, 2010, in...
-
ACCOUNTS AMOUNTS IN PESO June July 1 Cash on hand 20,000.00 45,000.00 2 Accounts Receivable 10,000.00 15,000.00 3 Sales 230,000.00 220,000.00 4 Allowance for doubtful accounts 5,000.00 5,000.00 5...
-
According to one estimate, the parts for a Segway Human Transporterwhich has five gyroscopes, two tilt sensors, dual redundant motors, ten microprocessors, and can travel up to 12.5 mphcost at least...
-
Complete the requirements below using the most recent (20xx) financial statements available on Sonic Drive-Ins website. Obtain the statements on the Internet by following the steps below. (The...
-
The Ramires, Incorporated experienced the following events during its first year of operations, Year 1: 1. Acquired $56,000 cash by issuing common stock. 2. Earned $52,000 cash revenue. 3. Paid...
-
North Bank has been borrowing in the U.S. markets and lending abroad, thereby incurring foreign exchange risk. In a recent transaction, it issued a one-year $ 2 million CD at 6 percent and is...
-
Two adult entertainment establishments feature live nude dancing ("strip clubs") in City. Because the clubs are competing for customers, they buy advertisements on large electronic billboards in the...
-
e) The Miles and Ezzell (1980) model suggests that the model at (d) above explains the relationship between the asset and equity beta. The Hamada (1972) model suggests a different formula for...
-
Consider the following data DescriptionCost Cost of Materials Used$40,000 Direct Labor costs$55,000 Factory Overhead$32,000 Work in Process, beg$28,000 Work in Process, end$18,000 Finished Goods,...
-
Give an example of a type of business which might utilize high leverage ( gearing ) fully explaining how this would benefit them from a financial management perspective.
-
While parachuting, a 71.0 kg person experiences a downward acceleration of 2.60 m/s. What is the downward force Fperson on the parachute from the person? Ignore the effects of air resistance.
-
Frequency is marked on the ____-axis of the graph of a frequency distribution.
-
CLASS PERIO Solving Linear Equations: Variable on Both Sides Solve each equation. 1) 6r+ 7 = 13 + 7r 3) -7x-3x+2=-8x-8 5)-14 +66+7-26=1+5b 7) n-3n = 14-4n 2) 13-4x=1-x 4)-8-x= x - 4x 6)n+2=-14-n 8)...
-
How has the Institute of Management Accountants responded to the need for high standards of ethical conduct in the accounting profession?
-
What are some of the common ethical conflicts that accountants encounter?
-
What are some of the common ethical conflicts that accountants encounter?
-
The following account balances are taken from the ledger of Maxwell Limited on 31 December 2018, the end of its fiscal year: Maxwell Limited Trial Balance As on 31 December 2018 S'm S'm Investment...
-
A researcher wishes to assess whether vitamin C is effective in the treatment of colds. To evaluate this hypothesis, the researcher decides to conduct a 2-year experimental study. The researcher...
-
Cullumber Co. acquired 25% of the 520,000 shares of outstanding common stock of Oriole Inc. on December 31, 2025. The purchase price was $3,913,000. Oriole declared and paid $1.20 per share cash...
Study smarter with the SolutionInn App