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Revenue Recognition and Matching Carrico Advertising Inc performs advertising services for several Fortune 500 companies The following information describes Carrico's activities during 2011 At Reven

Revenue Recognition and Matching

Carrico Advertising, Inc. performs advertising services for several Fortune 500 companies. The following information describes Carrico's activities during 2011.

  1. At the beginning of 2011, customers owed Carrico $45,800 for advertising services performed during 2010. During 2011, Carrico performed an additional $688,800 of advertising services on account. Carrico collected $708,700 cash from customers during 2011.
  2. At the beginning of 2011, Carrico had $12,330 of supplies on hand for which it owed suppliers $8,150. During 2011, Carrico purchased an

Feb 10 2020 View more View Less

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