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Fed [463]
2 years ago
7

A company has the following accrual-basis balances at the end of its first year of operation: Un-earned consulting fees $ 2,000,

Consulting fees receivable 3,500, Consulting fee revenue 25,000. The company’s cash-basis consulting revenue is what amount?
A. $30,500.
B. $19,500.
C. $26,500.
D. $23,500.
Business
1 answer:
nlexa [21]2 years ago
7 0

Answer:  

D. $23,500.

Explanation:

Company’s cash-basis consulting revenue

= Consulting fee revenue - Consulting fees receivable  +  Unearned consulting fees

= $25,000 - $3,500 + $2,000

= $23,500

Therefore, The company’s cash-basis consulting revenue is $23,500.

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