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How much service revenue would you have under the cash basis

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Reference no: EM131988431

Question - Suppose you work summers house-sitting for people while they are away on vacation. Most of your customers pay you immediately after you finish a job. A few ask you to send them a bill. It is now June 30 and you have collected $600 from cash paying customers. Your remaining customers owe you $1,400.

Requirements

1. How much service revenue would you have under the

a. cash basis?

b. accrual basis?

2. Which method of accounting provides more information about your house sitting business?

Reference no: EM131988431

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