During 2019,Ocean Consulting Had the Following Transactions with It Clients

question 13

Multiple Choice

During 2019,Ocean Consulting had the following transactions with it clients (customers) : On February 1,2019,the company received cash of $10,000 from clients in payment of their account balances as of December 31,2018.
On November 1,2019,the company received $4,000 cash as payments in advance for services to be performed in 2020.
The company received a total of $26,000 in cash for services that were performed during 2019.
The company sent bills totaling $8,000 to clients for services performed during 2019;this amount was unpaid as December 31,2019.
What is the amount of Service Revenue that will be reported on the income statement for the year 2019?

• A)$38,000.
• B)$44,000.
• C)$48,000.
• D)$34,000.

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Definitions:

Withdrawn

A state or behavior characterized by a reluctance to engage with others or participate in social activities, often due to emotional or psychological reasons.

Securely Attached

A term describing individuals who have a positive view of themselves and their relationships, leading to healthy and trusting interpersonal connections.

Separation Anxiety

A disorder characterized by excessive fear or anxiety about being apart from attachment figures or familiar home environments.

Unpredictable Temperament

An individual's behavioral style that is irregular or difficult to forecast, affecting how they react in various situations.