Analyze the following transactions that took place in January. Determine the amount of revenue and/or expense (if any) to be recorded in January. Revenue Expense Recognized Recognized Received $15,400 cash for consulting services rendered in January. $ 15,400 Received utility bill for January for the amount of $1,650 due February 15th $ 1,650 Received $10,550 cash for consulting services, $8,000 in January and the remainder in February $ 8,000 Received $17,300 cash for consulting services rendered in December $ 17,300: Provided $107,000 in service to customers with $100,500 on account and rest received in cash $ 107,000 $ 100,500 Paid rent for the month of January in the amount of $2,000 $ 2,000
Analyze the following transactions that took place in January. Determine the amount of revenue and/or expense (if any) to be recorded in January. Revenue Expense Recognized Recognized Received $15,400 cash for consulting services rendered in January. $ 15,400 Received utility bill for January for the amount of $1,650 due February 15th $ 1,650 Received $10,550 cash for consulting services, $8,000 in January and the remainder in February $ 8,000 Received $17,300 cash for consulting services rendered in December $ 17,300: Provided $107,000 in service to customers with $100,500 on account and rest received in cash $ 107,000 $ 100,500 Paid rent for the month of January in the amount of $2,000 $ 2,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Analyze the following transactions that took place in January. Determine the amount of revenue and/or expense (if any) to be
recorded in January.
Revenue
Expense
Recognized
Recognized
Received $15,400 cash for consulting services rendered in January.
$
15,400
Received utility bill for January for the amount of $1,650 due February 15th
$
1,650
Received $10,550 cash for consulting services, $8,000 in January and the remainder in February
$
8,000
Received $17,300 cash for consulting services rendered in December
$
17,300:
Provided $107,000 in service to customers with $100,500 on account and rest received in cash
$
107,000 $
100,500
Paid rent for the month of January in the amount of $2,000
$
2,000
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