The following transactions were carried out during the month of May by M.SAJJAD and company a firm of design architects for each of the 5 transaction, you are to state whether the transaction represented revenue to the firm during the month of May give reason for your decision in each case. 1. M. SAJJAD invested an additional S 15000 cash in the business. 2. Collected cash of $2400 from an account receivable .the receivable originated in April from services rendered to a client. 3. Borrowed $12800 from allied bank account during the month to May no withdrawals were made from this account in may 4. Completed plan for guest hour, pool and spa for a client. The $5,700 fee for this project was billed to the client in May but will not be collected until June 25

The following transactions were carried out during the month of May by M.SAJJAD and company a firm of design architects for each of the 5 transaction, you are to state whether the transaction represented revenue to the firm during the month of May give reason for your decision in each case. 1. M. SAJJAD invested an additional S 15000 cash in the business. 2. Collected cash of $2400 from an account receivable .the receivable originated in April from services rendered to a client. 3. Borrowed $12800 from allied bank account during the month to May no withdrawals were made from this account in may 4. Completed plan for guest hour, pool and spa for a client. The $5,700 fee for this project was billed to the client in May but will not be collected until June 25

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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