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Subjects>Law & Government>United States Government

Someone accepts a legal engagement in March performs the work in April and is paid in May If that person prepares monthly financial statements when should they recognize revenue from this engageme?

Updated: 11/6/2022

Magliotti ∙

Lvl 1

∙ 15y ago

Best Answer

Revenue is normally recognized when it is earned. Assuming all work was performed in April, the revenue should be recognized in April. (Dr. A/R; Cr. Revenue)

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∙ 15y ago

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Q: Someone accepts a legal engagement in March performs the work in April and is paid in May If that person prepares monthly financial statements when should they recognize revenue from this engageme?

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