The amount that is to be reported as revenue for the year 2016 and to explain the way in which revenue principle help in this situation.

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Answer 1

Question

Chapter 3, Problem 3.30BE

a.

To determine

The amount that is to be reported as revenue for the year 2016 and to explain the way in which revenue principle help in this situation.

b.

To determine

The total expense that is to be reported as expense for the year 2016 and to explain the way in which the accounting principle help in this situation.

c.

To determine

To calculate: The “part a” and “part b” using the cash basis and to explain the way in which the accrual basis differs from cash basis.

d.

To determine

To explain: The statement in which revenues and expenses are reported and to explain the statement in which the cash receipts and cash payments are reported.

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Answer 2

Question

Chapter 3, Problem 3.30BE

a.

To determine

The amount that is to be reported as revenue for the year 2016 and to explain the way in which revenue principle help in this situation.

b.

To determine

The total expense that is to be reported as expense for the year 2016 and to explain the way in which the accounting principle help in this situation.

c.

To determine

To calculate: The “part a” and “part b” using the cash basis and to explain the way in which the accrual basis differs from cash basis.

d.

To determine

To explain: The statement in which revenues and expenses are reported and to explain the statement in which the cash receipts and cash payments are reported.

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Answer 3

Question

Chapter 3, Problem 3.30BE

a.

To determine

The amount that is to be reported as revenue for the year 2016 and to explain the way in which revenue principle help in this situation.

b.

To determine

The total expense that is to be reported as expense for the year 2016 and to explain the way in which the accounting principle help in this situation.

c.

To determine

To calculate: The “part a” and “part b” using the cash basis and to explain the way in which the accrual basis differs from cash basis.

d.

To determine

To explain: The statement in which revenues and expenses are reported and to explain the statement in which the cash receipts and cash payments are reported.

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Answer 4

Question

Chapter 3, Problem 3.30BE

a.

To determine

The amount that is to be reported as revenue for the year 2016 and to explain the way in which revenue principle help in this situation.

b.

To determine

The total expense that is to be reported as expense for the year 2016 and to explain the way in which the accounting principle help in this situation.

c.

To determine

To calculate: The “part a” and “part b” using the cash basis and to explain the way in which the accrual basis differs from cash basis.

d.

To determine

To explain: The statement in which revenues and expenses are reported and to explain the statement in which the cash receipts and cash payments are reported.

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Answer 5

Chapter 3, Problem 3.30BE

a.

To determine

The amount that is to be reported as revenue for the year 2016 and to explain the way in which revenue principle help in this situation.

b.

To determine

The total expense that is to be reported as expense for the year 2016 and to explain the way in which the accounting principle help in this situation.

c.

To determine

To calculate: The “part a” and “part b” using the cash basis and to explain the way in which the accrual basis differs from cash basis.

d.

To determine

To explain: The statement in which revenues and expenses are reported and to explain the statement in which the cash receipts and cash payments are reported.

Answer 6

Chapter 3, Problem 3.30BE

a.

To determine

The amount that is to be reported as revenue for the year 2016 and to explain the way in which revenue principle help in this situation.

Answer 7

Chapter 3, Problem 3.30BE

a.

To determine

The amount that is to be reported as revenue for the year 2016 and to explain the way in which revenue principle help in this situation.

Answer 8

b.

To determine

The total expense that is to be reported as expense for the year 2016 and to explain the way in which the accounting principle help in this situation.

Answer 9

b.

To determine

The total expense that is to be reported as expense for the year 2016 and to explain the way in which the accounting principle help in this situation.

Answer 10

c.

To determine

To calculate: The “part a” and “part b” using the cash basis and to explain the way in which the accrual basis differs from cash basis.

Answer 11

c.

To determine

To calculate: The “part a” and “part b” using the cash basis and to explain the way in which the accrual basis differs from cash basis.

Answer 12

d.

To determine

To explain: The statement in which revenues and expenses are reported and to explain the statement in which the cash receipts and cash payments are reported.

Answer 13

d.

To determine

To explain: The statement in which revenues and expenses are reported and to explain the statement in which the cash receipts and cash payments are reported.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 3 - Prob. 1QC Ch. 3 - Prob. 2QC Ch. 3 - Prob. 3QC Ch. 3 - Prob. 4QC Ch. 3 - Prob. 5QC Ch. 3 - Prob. 6QC Ch. 3 - Prob. 7QC Ch. 3 - Prob. 8QC Ch. 3 - Prob. 9QC Ch. 3 - Prob. 10QC

The amount that is to be reported as revenue for the year 2016 and to explain the way in which revenue principle help in this situation.

The amount that is to be reported as revenue for the year 2016 and to explain the way in which revenue principle help in this situation.

The total expense that is to be reported as expense for the year 2016 and to explain the way in which the accounting principle help in this situation.

To calculate: The “part a” and “part b” using the cash basis and to explain the way in which the accrual basis differs from cash basis.

To explain: The statement in which revenues and expenses are reported and to explain the statement in which the cash receipts and cash payments are reported.

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Chapter 3 Solutions