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veliness Faculty Moodle Help You receive $45,000 in year 1 for a job to be...

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Accounting

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veliness Faculty Moodle Help You receive $45,000 in year 1 for a job to be started and completed in year 2. You pay your supplier 33,000 in year 1 for materials and supplies to be delivered to you in yea 2 for the upcoming job. In year 2, you complete the job. You purchase additional materials for 7,000 in year 2. Based on the information above, answer the following questions. Using Cash Basis of Accounting, what is the revenue of year 1? (Number Format: Only provide numbers, no comma or unit or $ required. Example: 1000) Answer: 45000 Using Cash Basis of Accounting, what is the expense of year 12 (Number Format: Only provide numbers, no comma or unit or s required. Example: 1000) Answer: 12000 Answer: 12000 Using Accrual Basis of Accounting, what is the revenue of year 1? (Number Format: Only provide numbers, no comma or unit or $ required. Example: 1000) Answer: Using Accrual Basis of Accounting, what is the expense of year 2? (Number Format: Only provide numbers, no comma or unit or $ required. Example: 1000)

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