Ayayai Corp. collected $15920 in May of 2021 for 4 months of service which would take...
Ayayai Corp. collected $15920 in May of 2021 for 4 months of service which would take place from October of 2021 through January of 2022. The revenue reported from this transaction during 2021 would be:
$11940
. $0.
$3980.
$15920.
Homework Answers
Answer
--No of months for which services were provided in 2021 = 3 months [October, November and December]
--$ 15920 is received for 4 months.
--Revenue to be reported during 2021 for 3 months = $ 15920 x 3/4 = $ 11,940
--Correct Answer = Option #1: $ 11,940
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