in the month of march, chester received orders of 99 units at a price of $15.00 for their product cat. chester uses the accrual method of accounting and offers 30 day credit terms. chester delivers 99 units in april. they received payment for 50 units in march, and 50 units in april. in the march income statement, how much revenue is recognized on the march income statement from this order? how much in the april income statement? (answer in thousands)

Question

17-12-2022
Business

contestada

in the month of march, chester received orders of 99 units at a price of $15.00 for their product cat. chester uses the accrual method of accounting and offers 30 day credit terms. chester delivers 99 units in april. they received payment for 50 units in march, and 50 units in april. in the march income statement, how much revenue is recognized on the march income statement from this order? how much in the april income statement? (answer in thousands)

Respuesta :

Otras preguntas

. A scuba diver went down 20 feet below the surface of the water. Then she dove down 3 more feet. Later, she rose 7 feet. What integer describes her depth?

Ann, Mara, Jenny , Tina, and Sue are sisters. Two of the five sisters must help their fatherat his business each Saturday.How many combinations of two sisters a

Y is between x and z xy= 13.8 and xz= 21.4 find yz

slope= -1/3 passing through (9,-2)point slop form?slope intercept form?

Why were the Intolerable Acts passed?

Someone help meee please

- ØErin enjoys dancing- ØErin’s favorite dance is the Lindy HopWhich is the best way to combine this information into a grammatically correct sentence?A. Erin e

What secondary consumers live in the tundra?

A cube-shape shipping crate has a volume of 27 cubic feet.what are the dimensions of the crate?

A car starts from rest and accelerates uniformly over a time of 5.21 seconds for a distance of 110.m. Determine the acceleration of the car.

Tundexi Tundexi · Answer 1 · 2022-12-22T14:01:47+01:00

In March income statement, the recognized revenue from this order will be $0.

In April income statement, the recognized revenue from this order will be $1,485.

What is an Accrual method of accounting?

In accounting, accrual method stipulated that revenue is earned when the seller has performed under the sales contract. By performance, this means that the seller has delivered the promised goods to the buyer.

From the question, Chester did not deliver the product Cat until April, even though half of payment was received in March.

This means the sales amount for the month of March is $0. For April, the entire sales figure of $1,485 ($15*99 units) would be recognized as revenue in the income statement of April.