Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. clark bell started a personal financial planning b

Clark Bell started a personal financial planning business when he accepted $61,000 cash as advance...

90.2K

Verified Solution

Question

Accounting

imageClark Bell started a personal financial planning business when he accepted $61,000 cash as advance payment for managing the financial assets of a large estate. Bell agreed to manage the estate for a one-year period beginning June 1, Year 1.

How much revenue would Bell recognize on the Year 2 income statement?

CLARK BELL PERSONAL FINANCIAL PLANNING Horizontal Statements Model for Year 1 Balance Sheet Income Statement Stockholders RevenueExpense AssetsLiabilitiesS Cash Unearned Event et Income Statement of Cash ul Flows Retained Earnings Revenue 61,000 61,000+ 1. Advance payment 2. Revenue earned 25,416 OA 35,583 OA 60,999 OA Totals 61.0001 = 61,000+

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

If m MPL 63 find each measure N M a mJK b mNJ c mJL...

Biology
1.2K views

Which cell cycle phase would NOT progress if a lack of nutrients prevented cell growth? a.Cytokinesis b. S...

Medical Sciences
1.2K views

What is the function of mitosis in a cell that is about to divide? Please new...

Biology
1.2K views

Describe one example of cellular (either cells within a multicellular organism or unicellular organisms) where population genetics...

Biology
1.2K views

hello I need a gene that produces an enzyme that can be easily assayed for activity. please...

Accounting
1.2K views

Question 1 Inherent risks can be classified according to their nature, such as “unusual pressure on management”...

Physics
1.2K views

22 2 ent a c r 3 b 3r Jamni be d 2 3r 158...

Basic Math
1.2K views

Juan Carlos has been asked to find the distance between two points on a ...

Basic Math
1.2K views

Diana has 2400 yards of fencing and wishes to enclose a rectangular area.(a) Express the...

Algebra
1.2K views

Let X? be a closed subspace and X? be a finite dimensional subspace of a...

Accounting
1.2K views

Under the periodic inventory system, the journal entry to record the cost of merchandise sold...

Accounting
1.2K views

Rock Inc. has three divisions, Granite, Lime and Nina. All fixed costs are unavoidable Following...