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damaskus [11]
3 years ago
14

"in year 1, costello company performed $14,000 of services for a customer who paid immediately. it also incurred $6,000 of wage

expenses but did not pay employees until year 2. if costello uses the accrual-basis of accounting, then costello will report"
Business
1 answer:
valina [46]3 years ago
7 0

Answer: revenue of $14,000 and expense of $6,000 in Year 1.

Explanation:

In accrual accounting, it should be noted that for this accounting method, the revenue or expenses that are made by the individual or company will be recorded as at the time that the transaction took place and not when the payment for the transaction was gotten.

Since Costello company performed $14,000 of services and also incurred $6,000 of wage expenses, then Costello will report revenue of $14,000 and expense of $6,000 in Year 1.

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The given statement stands as true about inelastic products.

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1 year ago
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WITCHER [35]

Answer: true

Explanation:

8 0
3 years ago
Why is price competition more of a factor in internet sales than other forms of retail?​
Kipish [7]

Answer: I believe it's C, because it says that there are many different prices, and it makes sense because there are so many different selling sites

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3 years ago
The $1,000 face value ABC bond has a coupon rate of 10%, with interest paid annually, and matures in 3 years. If the bond is pri
dybincka [34]

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Well, insurance or taxes! :D
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