Bilal, a sole proprietor received RO 500 on 1st November 2020 for providing services for 5 months. What is the revenue and unearned revenue at the end of the accounting year? (31st December) a. RO 300 and RO 200 b. RO 200 and RO 300 c. RO 500 and RO 100 d. RO 100 and RO 500
Bilal, a sole proprietor received RO 500 on 1st November 2020 for providing services for 5 months. What is the revenue and unearned revenue at the end of the accounting year? (31st December) a. RO 300 and RO 200 b. RO 200 and RO 300 c. RO 500 and RO 100 d. RO 100 and RO 500
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 30CE: LO.2 In 2019, Chaya Corporation, an accrual basis, calendar year taxpayer, provided services to...
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Question
Bilal, a sole proprietor received RO 500 on 1st November 2020 for providing services for 5 months. What is the revenue and unearned revenue at the end of the accounting year? (31st December)
a.
RO 300 and RO 200
b.
RO 200 and RO 300
c.
RO 500 and RO 100
d.
RO 100 and RO 500
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