Consider the following events for Sophia Incorporated:
April 5 $\quad$Sophia purchases volleyballs for $\$ 200$ on account.
April 6 $\quad$Sophia advertises a sand volleyball camp for $\$ 20$ a person.
April 12 $\quad$Thirty people sign up for the camp paying a total of $\$ 600$.
April 21 $\quad$Sophia hosts the sand volleyball camp.
April 23 $\quad$Sophia pays for the volleyballs purchased on April 5.
Under accrual-basis accounting,what is the appropriate day to record the revenues from the sand volleyball camp?

Question

Consider the following events for Sophia Incorporated:
April 5 $\quad$Sophia purchases volleyballs for $\$ 200$ on account.
April 6 $\quad$Sophia advertises a sand volleyball camp for $\$ 20$ a person.
April 12 $\quad$Thirty people sign up for the camp paying a total of $\$ 600$.
April 21 $\quad$Sophia hosts the sand volleyball camp.
April 23 $\quad$Sophia pays for the volleyballs purchased on April 5.
 Under accrual-basis accounting,what is the appropriate day to record the revenues from the sand volleyball camp?

Quizplus · Accepted Answer

Under accrual-basis accounting, revenues are recorded when they are earned. The sand volleyball camp revenues are earned when the camp is hosted on April 21.

Consider the Following Events for Sophia Incorporated: April 5 \quad Sophia Purchases Volleyballs For

Consider the Following Events for Sophia Incorporated:
April 5 $\quad$ Sophia Purchases Volleyballs For