Calculate the total revenue for the month of February 2016, given the following transactions. 1. Credit sales

Question:

Calculate the total revenue for the month of February 2016, given the following transactions.
1. Credit sales of $100 000 made in February; 50 per cent to be collected in February.
2. Cash sales of $150 000.
3. Received rental revenue of $5000 for the month of February.
4. Interest of $8000 is credited to the company bank statement. It relates to interest earned for the six months from 1 August 2015 to 31 January 2016.
5. Received $10 000 as a deposit from a customer for a job to be carried out in March.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting An Integrated Approach

ISBN: 9780170349680

6th Edition

Authors: Ken Trotman, Michael Gibbins, Elizabeth Carson

Question Posted: