Suppose your company sells services of $180 in exchange for $110 cash and $70 on account.  prepare journal entry a) Record the service revenue of $110 for cash and $70 on account.   dentify the amount that should be reported as net cash flow from operating activities. Identify the amount that would be included in net income. Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2).

What does the phrase "Revenue is recognized at the point of sale" mean? (Assume the company reports using ASPE.) a.Revenue is recorded in the accounting records when the goods are sold to a customer and reported on the statement of earnings when the cash payment is received from the customer. b.Revenue is recorded in the accounting records and reported on the statement of earnings when the cash is received from the customer. c.Revenue is recorded in the accounting records when the cash is received from a customer and reported on the statement of earnings when sold to the customer. d.Revenue is recorded in the accounting records and reported on the statement of earnings when goods are sold and delivered to a customer.

Indicate in which financial statement each item would most likely appear, by selecting income statement, balance sheet, or statement of cash flows from the drop down provided. a. Consulting revenue b. Net decrease (or increase) in cash c. Furniture d. Cash from operating activities e. Salaries payable f. Supplies expense g. Buildings h. Rent payable

Please answer the following using the image attached. Thank you     1. Cash Received from customers    2. Cash payment for Salaries    3. Cash payment for Operating Expenses    4. Cash payment for Income Tax     5. Cash Flows from Operating Activities    6. Cash Flows from Investing Activities    7. Cash Flows from Financing Activities                        8. Cash flows from acquiring and selling products are classified as   9. Cash flows from acquiring and disposing long-term assets are classified as                10. Cash flows from borrowings and paying of debts are classified as