How much revenue would sydney ltd recognise for the month

Assignment Help Financial Accounting
Reference no: EM132608708

Question 1: Given only the following information, how much revenue would Sydney Ltd recognise for the month of June 2020?

  1. Received a deposit in June from a customer for $100,000 for work to be commenced in July and completed in August 2020;
  2. Credit sales of $300,000 in June 2018, only 50% to be collected in during June 2020;
  3. Cash sales made in June 2020 $100,000;
  4. Collected $400,000 in June from customers for May sales;
  5. Received $250,000 in May 2020 from a customer for the delivery of goods in June 2020. The goods were subsequently delivered by the end of June.

Multiple choice out of

Option a. $500,000

Option b. $800,000

Option c. $650,000

Option d. $1,450,000

Option e. None of the above

Reference no: EM132608708

Questions Cloud

Six stages of process development : Can you explain the six stages of process development and how they can apply to your daily life?
What is your r squared : What is your R squared (variance explained)? Is it sufficient to proceed? Because your company wants to lead in base pay by 3%, adjust the predicted pay rates.
Find what is net profit for the year : DEF Ltd has no opening inventory. Operating expenses paid in cash are $35,000 and it owes wages of $15,000 at year end. What is net profit for the year?
Describe operating system hardening : Supplying citations to support any information that you provide. Describe operating system hardening. Describe system restoration methods and procedures
How much revenue would sydney ltd recognise for the month : How much revenue would Sydney Ltd recognise for the month of June 2020? Received a deposit in June from a customer for $100,000 for work
Define diversity factors that impact an organization : For this Capstone assignment, you will identify 5 legal and diversity factors that impact an organization. Then, you will create and present 5 strategies HR.
Health care informatics and system breaches : Analyze three ways the HIMS failures impacted the organizations' operations and patient information protection, privacy, or personal safety.
Calculate the value of goodwill that would be recorded : Calculate the value of goodwill that would be recorded by Snoopy if it offered $ 2,060,300 for the net assets of Woodstock Corporation.
About network defense and countermeasures : Compose a synopsis compiling what you have learned about network defense and countermeasures.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd