Homework Answers
Answer:
Assets, revenue, and owners' equity are increased in June, regardless of when payments are received for the services rendered.
Reason:
As per GAAP we book profit when we earn. in this case, healthy life services provide service in the month hence its revenue increase which lead to increase in owners equity. and respectively his debtors' increase which results in assets increase
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T-balance
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How can we assess whether a project is a success or a
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T-balance
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