Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. during 2019, zigma company earned service revenue

During 2019, Zigma Company earned service revenue amounting to $810,000, of which $650,000 was collected...

60.1K

Verified Solution

Question

Accounting

During 2019, Zigma Company earned service revenue amounting to $810,000, of which $650,000 was collected in cash; the balance will be collected in January 2020. Also in 2019, there were collections of cash prior to the delivery of goods/services totaling $9,700. What amount should the 2019 income statement report for service revenue?

Multiple Choice

  • $160,000

  • $810,000

  • $650,000

  • $680,000

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

Q

You are coaching a little league team and are playing a double-header on a very hot...

Medical Sciences
Q

for the following questions find : Vertex form, identify the vertex , concality and maximum/minimum. 1. Q(x)=-3x^2+12x 2. K...

Advance Math
Q

Which types of UV radiation contribute increase rates of skin cancer?A. UV-A, UV-BB. UV-A, UV-CC....

Biology
Q

What is 7,000,000+ 900,000+20,000 + 7,000 + 400 + 40 + 2 in standard form?

Basic Math
Q

The Ward family and the Martinez family each used their sprinkders last summer. The water...

Basic Math
Q

Cereal for Breakfast A cereal company announced 60 of Americans start the day with cereal...

Statistics
Q

Manufacturing cost data for Bonita Company, which uses a job order cost system, are...

Accounting
Q

If Juan and Co.'s markup percent is 28%, the selling price of its product is...

Accounting
Q

Ohno Company specializes in manufacturing a unique model of bicycle helmet. The model is well...

Accounting
Q

Unit Information with BWIP, Weighted Average Method Jackson Products produces a barbeque sauce using three...

Accounting
Q

Eugene pulled together the following annual revenue and cost information for his small business: total...

Accounting
Q

The stock price of Google is $587. You have $10,000 to invest. The monthly interest...

Finance