Awree Natcatnotus Inc had the following select transactions with Green Landscaping Inc between September 2021 toDecember 2021.1. September 7: Awree Natcatnotus provided business consulting services of $25,000 and billed Green Landscaping Incfor the services. Green Landscaping will be in 30 days.2. September 12: Awree Natcacnotus signed a $42,000 six-month consulting contract with ABC Tutors. Services willcommence in January of next year and payment will be made monthly after services start.3. October 6: Green Landscaping paid the $25,000 it owed.4. October 12: Awree Natcatnotus received $25,000 from Green Landscaping for services to be provided over the nexttwo months.5. October 25: Awree Natcacnotus provided business consulting services worth $17,000 and billed Green Landscaping.Green Landscaping acknowledged the invoiced and agreed to the amount.6. November 27: Awree Natcacnotus provided business consulting services worth $12,000 and billed GreenLandscaping. Green Landscaping acknowledged the invoiced and agreed to the amount, and promised to pay anybalance not covered by the $25,000 paid on October 12 within 15 days.7. December 5: Awree Natcatnotus received $40,000 from Green Landscaping being payment of past services and anyremaining balance to be applied towards payment for future services.REQUIRED: Using the above six transactions, how much total revenue should Awree Natcacnotus Inc record? Explain.

The determination of total revenue that should be recorded by Awree Natcacnotus Inc is shown…

Answered: ng will be in 30 days. us signed a…

ng will be in 30 days. us signed a $42,000 six-month consulting co r and payment will be made monthly after se id the $25,000 it owed. received $25,000 from Green Landscaping f

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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Question

Awree Natcatnotus Inc had the following select transactions with Green Landscaping Inc between September 2021 to
December 2021.
1. September 7: Awree Natcatnotus provided business consulting services of $25,000 and billed Green Landscaping Inc
for the services. Green Landscaping will be in 30 days.
2. September 12: Awree Natcacnotus signed a $42,000 six-month consulting contract with ABC Tutors. Services will
commence in January of next year and payment will be made monthly after services start.
3. October 6: Green Landscaping paid the $25,000 it owed.
4. October 12: Awree Natcatnotus received $25,000 from Green Landscaping for services to be provided over the next
two months.
5. October 25: Awree Natcacnotus provided business consulting services worth $17,000 and billed Green Landscaping.
Green Landscaping acknowledged the invoiced and agreed to the amount.
6. November 27: Awree Natcacnotus provided business consulting services worth $12,000 and billed Green
Landscaping. Green Landscaping acknowledged the invoiced and agreed to the amount, and promised to pay any
balance not covered by the $25,000 paid on October 12 within 15 days.
7. December 5: Awree Natcatnotus received $40,000 from Green Landscaping being payment of past services and any
remaining balance to be applied towards payment for future services.
REQUIRED: Using the above six transactions, how much total revenue should Awree Natcacnotus Inc record? Explain.

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