Evan Corporation provided consulting services for Kensington Company in 2019. Evan incurred costs of $30,000 associated...
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Evan Corporation provided consulting services for Kensington Company in 2019. Evan incurred costs of $30,000 associated with the consulting and billed Kensington $45,000. Evan paid $20,000 of its costs in 2019 and the remaining $10,000 in 2020. Evan received $22,500.00 of its billing in 2019. Kensington paid the remaining $22,500 in 2020. Evan reports on the accrual basis of accounting. How much is Evan's 2019 and 2020 profit related to the Kensington consulting? Net profit $ 2019 $ 2020 Evan Corporation provided consulting services for Kensington Company in 2019. Evan incurred costs of $30,000 associated with the consulting and billed Kensington $45,000. Evan paid $20,000 of its costs in 2019 and the remaining $10,000 in 2020. Evan received $22,500.00 of its billing in 2019. Kensington paid the remaining $22,500 in 2020. Evan reports on the accrual basis of accounting. How much is Evan's 2019 and 2020 profit related to the Kensington consulting? Net profit $ 2019 $ 2020
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The question relates to calculating the net profit for Evan Corporation for the years 2019 and 2020 ... View the full answer
Related Book For
Principles of Financial Accounting chapters 1-17
ISBN: 978-1259687747
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
Posted Date:
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