Consider the following events for Sophia Incorporated: Under cash-basis accounting,what is the appropriate day to record the revenues related to the sand volleyball camp?
$$\begin{array} { | l | l | }
\hline \text { April } 5 & \text { Sophia purchases volleyballs for } \$ 200 \text { on acc ount. } \
\hline \text { April } 6 & \text { Sophia adtertises a sand volleyball camp for } \$ 20 \text { a person. } \
\hline \text { April } 12 & \text { Thirty people sign up for the camp paying a total of } \$ 600 . \
\hline \text { April } 21 & \text { Sophia hosts the sand volleyball camp. } \
\hline \text { April } 23 & \text { Sophia pays for the volleyballs purchased on April } 5 . \
\hline
\end{array}$$
A)April 5.
B)April 12.
C)April 21.

Question

Consider the following events for Sophia Incorporated: Under cash-basis accounting,what is the appropriate day to record the revenues related to the sand volleyball camp?
$$\begin{array} { | l | l | } 
\hline \text { April } 5 & \text { Sophia purchases volleyballs for } \$ 200 \text { on acc ount. } \
\hline \text { April } 6 & \text { Sophia adtertises a sand volleyball camp for } \$ 20 \text { a person. } \
\hline \text { April } 12 & \text { Thirty people sign up for the camp paying a total of } \$ 600 . \
\hline \text { April } 21 & \text { Sophia hosts the sand volleyball camp. } \
\hline \text { April } 23 & \text { Sophia pays for the volleyballs purchased on April } 5 . \
\hline
\end{array}$$
A)April 5.
B)April 12.
C)April 21.

Quizplus · Accepted Answer

Under cash-basis accounting, revenues are recorded when cash is received, which in this case is April 12, when the participants paid for the camp.

Consider the Following Events for Sophia Incorporated: Under Cash-Basis Accounting,what