Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. q2: a) harris consultants, a lawyer, accept a lega

Q2: a) Harris consultants, a lawyer, accept a legal engagement in March, performs the work...

90.2K

Verified Solution

Question

Accounting

image

Q2: a) Harris consultants, a lawyer, accept a legal engagement in March, performs the work in April, and is paid in May. If Harris's law firm prepares monthly financial statements, when should it recognize revenue from this engagement? Why? b) Hassam and co bought an equipment costing Rs.1500,000 two years ago. Equipment has a life of 5 years. What is the balance of accumulated depreciation account? (2.5+2.5 = 05 Marks)

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