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ACC 280 WEEK 4 DQ 4-ANSWER KEY

ACC 280 WEEK 4 DQ 4-ANSWER KEY
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Solution Guide / Answer Key:

 

ACC 280 WEEK 4 DQ 4-ANSWER KEY

Consider the following transactions of Parolini Company for 2008.

1. Sold a 6-month insurance policy to Orosco Corporation for $9,000 on March

2. Leased office space to Easley Supplies for a 1-year period beginning September 1.The rent of $30,000 was paid in advance.

3. Received a deposit of $10,000 for an office space in September from Alpha Corporation.  The space will not be available until October 2008.

4. Sold a 12 month insurance policy to Great Idea Corporation for $12,000 on June 1, 2008.

Instructions

For each item above, indicate the amount of revenue Parolini should recognize in calendar year

2008. Explain.

FILE: MS WORD

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