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need accrual accountant to make two journal entries and answer one question

going in circles on when revenue is recognized - contract date? but no service provided til 2/1

have been thinking about this tooo long and losing marbles

5. On 1/1/21 the company just signed a contract with Acme for a one-year $1,000,000 subscription effective 2/1/21 for a 12-month period. The invoice needs to be created and dated 1/15/21.

a. When creating the invoice for annual payment in February, which accounts should be debited/credited to note the receivable?

b. What other information might you need from the contract to have an accurate/complete invoice?

c. If the invoice for annual payment is entered into the accounting system dated 2/15/21 what accounts might need to be debited/credited for the month-end of 1/31/21?

Taidot: Kirjanpito, Rahoitus

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Tietoa työnantajasta:
( 0 arvostelua ) south portland, United States

Projektin tunnus: #30585480

22 freelanceria on tarjonnut keskimäärin $19 tähän työhön

(67 arvostelua)
6.4
(85 arvostelua)
5.8
(27 arvostelua)
4.9
Vikash250genial

HI , Good Morning I have read all the details of your requirement and assure you the best quality, timely delivery for the work, below is the details of my profile as follows : - I am "Vikash Lisää

$30 USD 7 päivässä
(3 arvostelua)
3.5
HelpingHut

need accrual accountant to make two journal entries and answer one question After reading your project details, I feel, I am the best option for you to fulfill this project with 100% perfection. I am working in this i Lisää

$10 USD 1 päivässä
(10 arvostelua)
3.9
indikes

Hi Client Greetings Hope you are doing great and safe. I'm a finance professional with 15 years experiences and CPA and CFA partly qualified. I can do your product immediately in accordance with the requirements. Lisää

$10 USD 1 päivässä
(4 arvostelua)
3.3
Imtiazjaf

Dear Sir, It is a pleasure to be applying for your project. I thoroughly read and check your issue regarding revenue recognizing, I can guide you for how revenue can be recognized using accrual basis and help you to Lisää

$10 USD 1 päivässä
(2 arvostelua)
2.0
FinancialMaster

Hi I am ACA and have more than 15 years of experience. I have gone through your requirement. i can do it efficiently. Keep in touch for further detail.

$10 USD 2 päivässä
(1 arvostelu)
1.1
sudhaca2012

I am a CA, I can do this work immediately with great level of accuracy. Please contact me if you are interested

$10 USD 1 päivässä
(0 arvostelua)
0.0
Sohailraza110

Dear Client I am ACCA from UK and have 10+ years experience in accounts and finance. Handling accounts of my clients is routine work for me. I think I can assist you in manging your accounts and bookkeeping. Looking Lisää

$20 USD 7 päivässä
(0 arvostelua)
0.0
kuriakaranja86

hello friend, I will be delighted to assist in the assignment. I am a detail-oriented researcher with excellent grammar skills and meticulous attention to detail. I hold a bachelor's degree in Commerce (Banking and Fi Lisää

$20 USD 7 päivässä
(0 arvostelua)
0.0
ashimkumarpodde4

Need to have the contract for more details to determine the time of accrual of income. However based on info above and assuming full amount received, the entry would be: Bank A/c Dr $1000000, Advance from Member Cr. $1 Lisää

$20 USD 7 päivässä
(0 arvostelua)
0.0
GAJENDRAJODHA

Hi understood your requirement. Please connect. You can see my profile to know that I can handle this. Thanks.

$20 USD 1 päivässä
(0 arvostelua)
0.0
alvinrasmus

Hello. I am very familar with revenue recognition requirements. The rules have changes over the last few years and I have worked with several CPA firms to help my clients prepare accurate journal entries and reportin Lisää

$25 USD 7 päivässä
(0 arvostelua)
0.0
Heinleong26

I am hard work people and look for some freelance work during weekend or holiday. I am a certified accountant with list company experience, I believe I have sufficient skill to handle task in a timely manner. Furthe Lisää

$20 USD 7 päivässä
(0 arvostelua)
0.0
AzharSattari

sir i have done many courses in accounting and have good financial skills i think i will help you out

$20 USD 5 päivässä
(0 arvostelua)
0.0
fahadjehangir9

I'm an auditor and have strong grip on ifrs For your queries 1. At invoice creation, no accounting entry shall be passed, as no performance obligation has been performed or cash received. 2. If you are asking genera Lisää

$20 USD 7 päivässä
(0 arvostelua)
0.0
EmilianoBasso

I have vast experience in financial reporting which will make me answer all of your questions quickly and effectively. Looking forward to working with you!

$15 USD 1 päivässä
(0 arvostelua)
0.0
WillCPA06

Hi! Im a CPA by profession and I think I can help you with this. Based on your concern, you're having trouble with your entries. You need to refer to IFRS 15 entitled Revenue from Contracts with customers. If you want Lisää

$25 USD 1 päivässä
(0 arvostelua)
0.0
Jojihomas10

GENERAL RESPONSIBILITIES:  Compiles and analyzes financial revenue information to prepare routine and non-routine entries to G/L accounts.  Analyzes account activity detailing more complex asset, liability, and capit Lisää

$20 USD 7 päivässä
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0.0