Question

astrid transport

es coral basis account Tooming transactions Eerdee-42 (Algorithe) Revenue and Recognition Astrid Transportation Inc, headquartered in Atlanta, Georgia, ied customers $2,309,490 for transportation services • collected cash from customers in the amount of $1,381,975 • purchased fuel supplies for $1,333,000 cash • sed fuel supplies that cost $1,304,740 employees earned salaries of 6292,300 perd employees 200, 300 cash for salaries Required: Determine the amount of sales revenue and total expenses for Astrid's income statement. Sales Revenue Total Expenses Send a chat O

Answer 1

Under accrual basis, income and expenditure will recognize based on it is earned or incurred. cash payment or receipt will not be consider for this.

Billed customers	$   2,389,490
Sales revenue	$   2,389,490

Used fuel supplies	$   1,304,740
Employees earned salary	$      292,300
Total expenses	$   1,597,040

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