Ryo Kiritani is a hair dresser and earns income by styling hair of well-known people. He initially received and recorded advance payments of Php 250,000, Php 725,000, and Php 555,500 from A, B, and C, respectively during the year 2022. By the end of December, it was determined that 30%, 355,000, and three-fourths of one-half work were done for B, C, and A, respectively by Ryo. 5. Assuming A, B, and C are Ryo Kiritani's only customers, how much is his adjusted service income on December 31, 2022? 6. How much is Ryo Kiritani's adjusted unearned revenue on December 31, 2022?

Ryo Kiritani is a hair dresser and earns income by styling hair of well-known people. He initially received and recorded advance payments of Php 250,000, Php 725,000, and Php 555,500 from A, B, and C, respectively during the year 2022. By the end of December, it was determined that 30%, 355,000, and three-fourths of one-half work were done for B, C, and A, respectively by Ryo. 5. Assuming A, B, and C are Ryo Kiritani's only customers, how much is his adjusted service income on December 31, 2022? 6. How much is Ryo Kiritani's adjusted unearned revenue on December 31, 2022?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter6: Business Expenses

Section: Chapter Questions

Problem 22P

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