Current Year Current Year Prior Year Prior Year Amount Percent Amount Percent Revenues: fill in the blank % $100,694 fill in the blank% fill in the blank % 146,980 fill in the blank% Admissions $90,639 Event-related revenue 136,900 NASCAR broadcasting revenue Other operating revenue 224,227 fill in the blank % 217,469 fill in the blank% 60,390 fill in the blank % 31,320 fill in the blank% Total revenues $512,156 fill in the blank % $496,463 fill in the blank% Expenses and other: Direct expense of events $(102,786) fill in the blank $(104,303) fill in the blank

Current Year Current Year Prior Year Prior Year Amount Percent Amount Percent Revenues: fill in the blank % $100,694 fill in the blank% fill in the blank % 146,980 fill in the blank% Admissions $90,639 Event-related revenue 136,900 NASCAR broadcasting revenue Other operating revenue 224,227 fill in the blank % 217,469 fill in the blank% 60,390 fill in the blank % 31,320 fill in the blank% Total revenues $512,156 fill in the blank % $496,463 fill in the blank% Expenses and other: Direct expense of events $(102,786) fill in the blank $(104,303) fill in the blank

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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FACTS / DATA / GIVEN: Тахраyer: Taxable period: • Receipts/earnings during the period: Resident citizen 2nd quarter Description Collections for services rendered in 2nd Amount P50,000 quarter Collections for services rendered in 1st 20,000 quarter Collections for services to be rendered in the 3rd quarter Uncollected billings in 1st quarter Uncollected billings in 2nd quarter 30,000 10,000 15,000 COMPUTE: Taxable income in the 2nd quarter using ACCRUAL basis A. 80,000 В. 95,000 ОС. 100,000 D. 115,000
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