Question

Robert Rogers, CPA performed accounting services for a client in December. A bill was mailed to client on December 30. Roberts received a check in the mail on January 5. The revenue principle would require that which of the following accounts appear on the income statement for the year ended December 31?

a. Accounts payable
b. Prepaid expense
c. Unread revenue
d. Service revenue

Answer 1

D) Service Revenue

Step-by-step explanation:

From the question we are informed about the Robert Rogers, CPA who performed accounting services for a client in December. A bill was mailed to client on December 30. Roberts received a check in the mail on January 5. The revenue principle would require that which of the following accounts appear on the income statement for the year ended December 31 is Service revenue.

Service revenue can be regarded as

the income that is been generated by a company through the service they provide. This amount can be seen on the top of the company's income statement, and there is addition of this amount to the revenue gotten from

product earnings so that total revenue of company can be calculated for a specific period of time.