Thome and Crede, CPAS, are preparing their service revenue (sales) budget for the coming year (2020). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below. Department Quarter 1 Quarter 2 Quarter 3 Quarter 4 Auditing 2,530 1,850 2,320 2,740 Tax 3, 250 2,680 2,140 2,690 Consulting 1,770 1,770 1,770 1,770 Average hourly billing rates are auditing $83, tax $94, and consulting $102. Prepare the service revenue (sales) budget for 2020 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue. THOME AND CREDE, CPAS Service Revenue Budget choose the accounting period For the Quarter Ending December 31, 2020 Quarter 1 Quarter 2 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev. Auditing enter a number of hours 2530 Senter a dollar amount 83 Senter a dollar amount 209990 enter a number of hours 1850 Senter a dollar amount 83 Senter a dollar amount 153550 Tax enter a number of hours 3250 enter a dollar amount 94 enter a dollar amount 305500 enter a number of hours 2680 enter a dollar amount 94 enter a dollar amount 251920 Consulting enter a number of hours 1770 enter a dollar amount 102 enter a dollar amount 180840 enter a number of hours 1770 enter a dollar amount 102 enter a dollar amount 180840 Totals Senter a total dollar amount 696330 Senter a total dollar amount 586310 THOME AND CREDE, CPAS Service Revenue Budget choose the accounting period For the Year Ending December 31, 2020 Quarter 3 Quarter 4 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev. Auditing enter a number of hours Senter a dollar amount Senter a dollar amount enter a number of hours Senter a dollar amount Senter a dollar amount Tax enter a number of hours enter a dollar amount enter a dollar amount enter a number of hours enter a dollar amount enter a dollar amount Consulting enter a number of hours enter a dollar amount enter a dollar amount enter a number of hours enter a dollar amount enter a dollar amount Totals Senter a total dollar amount Senter a total dollar amount THOME AND CREDE, CPAS Service Revenue Budget choose the accounting period Year Dept. Billable Hours Billable Rate Total Rev. Auditing enter a number of hours Senter a dollar amount Senter a dollar amount Tax enter a number of hours enter a dollar amount enter a dollar amount Consulting enter number of hours enter a dollar amount enter a dollar amount Totals Senter a total dollar amount

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Thome and Crede, CPAS, are preparing their service revenue (sales) budget for the coming year (2020). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each
department, by quarter, are provided below. Department Quarter 1 Quarter 2 Quarter 3 Quarter 4 Auditing 2,530 1,850 2,320 2,740 Tax 3, 250 2,680 2,140 2,690 Consulting 1,770 1,770 1,770 1,770
Average hourly billing rates are auditing $83, tax $94, and consulting $102. Prepare the service revenue (sales) budget for 2020 by listing the departments and showing for each quarter and the year in
total, billable hours, billable rate, and total revenue. THOME AND CREDE, CPAs Service Revenue Budget choose the accounting period For the Quarter Ending December 31, 2020 Quarter 1 Quarter 2 Dept.
Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev. Auditing enter a number of hours 2530 Senter a dollar amount 83 Senter a dollar amount 209990 enter a number of hours 1850
Senter a dollar amount 83 Senter a dollar amount 153550 Tax enter a number of hours 3250 enter a dollar amount 94 enter a dollar amount 305500 enter a number of hours 2680 enter a dollar amount 94
enter a dollar amount 251920 Consulting enter a number of hours 1770 enter a dollar amount 102 enter a dollar amount 180840 enter a number of hours 1770 enter a dollar amount 102 enter a dollar
amount 180840 Totals Senter a total dollar amount 696330 Senter a total dollar amount 586310 THOME AND CREDE, CPAS Service Revenue Budget choose the accounting period For the Year Ending
December 31, 2020 Quarter 3 Quarter 4 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev. Auditing enter a number of hours $enter a dollar amount Senter a dollar amount
enter a number of hours Senter a dollar amount Senter a dollar amount Tax enter a number of hours enter a dollar amount enter a dollar amount enter a number of hours enter a dollar amount enter a
dollar amount Consulting enter a number of hours enter a dollar amount enter a dollar amount enter a number of hours enter a dollar amount enter a dollar amount Totals Senter a total dollar amount
Senter a total dollar amount THOME AND CREDE, CPAS Service Revenue Budget choose the accounting period Year Dept. Billable Hours Billable Rate Total Rev. Auditing enter a number of hours $enter a
dollar amount Senter a dollar amount Tax enter a number of hours enter a dollar amount enter a dollar amount Consulting enter a number of hours enter a dollar amount enter a dollar amount Totals Senter
a total dollar amount
Transcribed Image Text:Thome and Crede, CPAS, are preparing their service revenue (sales) budget for the coming year (2020). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below. Department Quarter 1 Quarter 2 Quarter 3 Quarter 4 Auditing 2,530 1,850 2,320 2,740 Tax 3, 250 2,680 2,140 2,690 Consulting 1,770 1,770 1,770 1,770 Average hourly billing rates are auditing $83, tax $94, and consulting $102. Prepare the service revenue (sales) budget for 2020 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue. THOME AND CREDE, CPAs Service Revenue Budget choose the accounting period For the Quarter Ending December 31, 2020 Quarter 1 Quarter 2 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev. Auditing enter a number of hours 2530 Senter a dollar amount 83 Senter a dollar amount 209990 enter a number of hours 1850 Senter a dollar amount 83 Senter a dollar amount 153550 Tax enter a number of hours 3250 enter a dollar amount 94 enter a dollar amount 305500 enter a number of hours 2680 enter a dollar amount 94 enter a dollar amount 251920 Consulting enter a number of hours 1770 enter a dollar amount 102 enter a dollar amount 180840 enter a number of hours 1770 enter a dollar amount 102 enter a dollar amount 180840 Totals Senter a total dollar amount 696330 Senter a total dollar amount 586310 THOME AND CREDE, CPAS Service Revenue Budget choose the accounting period For the Year Ending December 31, 2020 Quarter 3 Quarter 4 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev. Auditing enter a number of hours $enter a dollar amount Senter a dollar amount enter a number of hours Senter a dollar amount Senter a dollar amount Tax enter a number of hours enter a dollar amount enter a dollar amount enter a number of hours enter a dollar amount enter a dollar amount Consulting enter a number of hours enter a dollar amount enter a dollar amount enter a number of hours enter a dollar amount enter a dollar amount Totals Senter a total dollar amount Senter a total dollar amount THOME AND CREDE, CPAS Service Revenue Budget choose the accounting period Year Dept. Billable Hours Billable Rate Total Rev. Auditing enter a number of hours $enter a dollar amount Senter a dollar amount Tax enter a number of hours enter a dollar amount enter a dollar amount Consulting enter a number of hours enter a dollar amount enter a dollar amount Totals Senter a total dollar amount
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