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Roc Corporation experienced the following transactions: • Borrowed $5,000 from the bank. ● Completed services for a customer and collected $2,500 cash. • Received $4,000 cash for services to be completed next year. • Received $3,000 in collection of an accounts receivable from services performed last year. Completed services and bill a customer $6,000. . How much revenue should Roc record this year? O $9,000. $8,500. $11,500. O $15,500.

Roc Corporation experienced the following transactions: • Borrowed $5,000 from the bank. ● Completed services for a customer and collected $2,500 cash. • Received $4,000 cash for services to be completed next year. • Received $3,000 in collection of an accounts receivable from services performed last year. Completed services and bill a customer $6,000. . How much revenue should Roc record this year? O $9,000. $8,500. $11,500. O $15,500.

FINANCIAL ACCOUNTING
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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Roc Corporation experienced the following transactions: ● Borrowed $5,000 from the bank. ● Completed services for a customer and collected $2,500 cash. • Received $4,000 cash for services to be completed next year. • Received $3,000 in collection of an accounts receivable from services performed last year. . Completed services and bill a customer $6,000. How much revenue should Roc record this year? O $9,000. $8,500. $11,500. O $15,500.
Transcribed Image Text:Roc Corporation experienced the following transactions: ● Borrowed $5,000 from the bank. ● Completed services for a customer and collected $2,500 cash. • Received $4,000 cash for services to be completed next year. • Received $3,000 in collection of an accounts receivable from services performed last year. . Completed services and bill a customer $6,000. How much revenue should Roc record this year? O $9,000. $8,500. $11,500. O $15,500.
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