Homework Answers
Answer to Question
1:
Service Revenue to be recorded for Customer A = $30,000
Answer to Question
2:
As Services provided to Customer B is $50,000, a trade discount of
20% will be given.
Service Revenue to be recorded for Customer B = $50,000 –
($50,000 * 20%)
Service Revenue to be recorded for Customer B = $40,000
Answer to Question
3:
Amount to be paid by Customer B = $40,000 – ($40,000 * 2%)
Amount to be paid by Customer B = $39,200
Answer to Question
4:
Service Revenue to be recorded for Customer A = $30,000
Service Revenue to be recorded for Customer B = $40,000
Service Revenue to be recorded for Customer C = $50,000 – ($50,000 * 20%) = $40,000
Service Revenue to be recorded for Customer D = $20,000
Monthly Service Revenue for the Agency = $30,000 + $40,000 +
$40,000 + $20,000
Monthly Service Revenue for the Agency = $130,000
Answer to Question
5:
Net Service Revenue for the Agency = Service Revenue – Sales
Discount
Total Sales Discount = Sales Discount given to Customer A + Sales Discount given to Customer B
Sales Discount given to Customer A = $30,000 * 2% = $600
Sales Discount given to Customer B = $40,000 * 2% = $800
Total Sales Discount = $600 + $800
Total Sales Discount = $1,400
Net Service Revenue for the Agency = $130,000 - $1,400
Net Service Revenue for the Agency = $128,600
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