During 2014, Dish Networks Inc. earned revenues of $700 million. Expenses totaled $540 million. Dish collected all
Question:
a. Under accrual accounting, what amount of revenue should the company report for 2014? Is the $700 million revenue earned, or is it the amount of cash actually collected?
b. Under accrual accounting, what amount of total expense should Dish report for the year-$540 million or $530 million?
c. Which financial statement reports revenues and expenses? Which statement reports cash receipts and cash payments?
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Related Book For
Financial Accounting
ISBN: 978-0133472264
5th Canadian edition
Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin
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