On 1/09/2017 ABC Company received $30,000 from customer X for services to be performed evenly over...

 

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On 1/09/2017 "ABC" Company received $30,000 from customer "X" for services to be performed evenly over a 12 months period starting 1/12/2017. In addition, on 1/10/2017 "ABC" received $11,880 from customer "Y" for services to be performed evenly over an 18 months starting 1/11/2017 Based on the above given information, answer the following questions: 1. What is the amount revenue that must be presented on the income statement for the 2017? o The Answer is: 2. What is the amount of TOTAL unearned revenue that must be presented on the statement of financial position as on 31/12/2017? o The Answer is: 3. What is the amount revenue that must be presented on the income statement for the 2018? to The Answer is: 4. What is the amount of TOTAL unearned revenue that must be presented on the statement of financial position as on 31/12/2018? o The Answer is: On 1/09/2017 "ABC" Company received $30,000 from customer "X" for services to be performed evenly over a 12 months period starting 1/12/2017. In addition, on 1/10/2017 "ABC" received $11,880 from customer "Y" for services to be performed evenly over an 18 months starting 1/11/2017 Based on the above given information, answer the following questions: 1. What is the amount revenue that must be presented on the income statement for the 2017? o The Answer is: 2. What is the amount of TOTAL unearned revenue that must be presented on the statement of financial position as on 31/12/2017? o The Answer is: 3. What is the amount revenue that must be presented on the income statement for the 2018? to The Answer is: 4. What is the amount of TOTAL unearned revenue that must be presented on the statement of financial position as on 31/12/2018? o The Answer is:

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1 The amount of revenue that must be presented on the income statement for 2017 is 30000 which is th... View the full answer