antiago, Inc. has the following receipts during 2018: From service billings to client P400,000 Advances from clients 100,000 Total cash collection P500,000 The P100,000 advances refer to services which will be rendered next year. Total uncollected billing increased from P100,000 on December 31, 2017 to P150,000 on December 31, 2018. Compute the gross income using accrual basis. P400,000 P500,000
antiago, Inc. has the following receipts during 2018: From service billings to client P400,000 Advances from clients 100,000 Total cash collection P500,000 The P100,000 advances refer to services which will be rendered next year. Total uncollected billing increased from P100,000 on December 31, 2017 to P150,000 on December 31, 2018. Compute the gross income using accrual basis. P400,000 P500,000
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...
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Santiago, Inc. has the following receipts during 2018:
From service billings to client | P400,000 |
Advances from clients | 100,000 |
Total cash collection | P500,000 |
The P100,000 advances refer to services which will be rendered next year. Total uncollected billing increased from P100,000 on December 31, 2017 to P150,000 on December 31, 2018.
Compute the gross income using accrual basis.
P400,000
P500,000
P450,000
P550,000
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