Please answer this question with brief solution. I need the answer ASAP thank you! FDN Company earns revenue from rendering advertising services to various clients.FDN Company received P84,000 for advertising services to be provided to clients andthis was credited to a liability account. At year end, 20% of advertising services hasbeen provided. How much is the advertising revenue for the year ended December31, 2021?

As per accrual concept, revenues and expenses are recognised only when there earned or incurred and…

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Business

Accounting

Please answer this question with brief solution. I need the answer ASAP thank you!

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter17: Advanced Issues In Revenue Recognition

Section: Chapter Questions

Problem 19E: Rix Company sells home appliances and provides installation and service for its customers. On April...

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Please answer this question with brief solution. I need the answer ASAP thank you!

FDN Company earns revenue from rendering advertising services to various clients.
FDN Company received P84,000 for advertising services to be provided to clients and
this was credited to a liability account. At year end, 20% of advertising services has
been provided. How much is the advertising revenue for the year ended December
31, 2021?

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