Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

تمرين 67

The following transactions were carried out during the month of May by Hagen and Associates, a firm of design architects.or each of the five transactions, you are to state whether the transaction represented revenue to the firm during the month of May.ive reasons for your decision in each case.
a.he firm received $300,000 cash by issuing additional shares of capital stock.
b.ollected cash of $25,000 from an account receivable.he receivable originated in April from services rendered to a client.
c.orrowed $60,000 from Century Bank to be repaid in three months.
d.arned $250 interest on a company savings account during the month of May.o withdrawals were made from this account in May.
e.ompleted plans for guesthouse, pool, and spa for a client.he $7,000 fee for this project was billed to the client in May, but will not be collected until June 25.