Homework Answers
Ans :
| Revenue P should recongnise | $ 4291.56 |
Explanation:
1) Consultant's fees : $ 15,327
2) P receives 28% of the fees paid to the consultant
3) Therefore, revenue P should recognise from this transaction is,
= $ 15,327 ×28%
= $ $4291.56
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by Lauryn on January 1 of last year when she was issued 2,200
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