Speak Corporation, a calendar-year, accrual-basis taxpayer, sell packages of foreign langauge lessons to individuals planning to work overseas. In December 2018, it sold and received payment for $600,000 of 24-month lesson packages to be provided evenly through 2019 and 2020. Speak Corporation will recognize the $600,000 of income
A. all in 2020.
B. half in 2019 and half in 2020.
C. all in 2018.
D. all in 2019.
Answer: D
Business
You might also like to view...
Retained Earnings has a normal debit balance
Indicate whether the statement is true or false
Business
Explain the purpose of a break-even analysis
What will be an ideal response?
Business
A retailer takes 4 days to process an order and the supplier takes 12 days to deliver merchandise. The retailer should begin to order merchandise how many days before the old inventory runs out?
a. 3 days b. 4 days c. 16 days d. 48 days
Business
Which method is best to compute a firm's cost of equity?
A) CAPM B) Bond yield plus risk premium C) Constant growth model D) All of these methods E) None of these methods; use the current market price per share.
Business