contestada

c. Suppose that the total amount to be paid under the contract with the city is estimated at $14,000 but may be adjusted to $12,000 next year during the review of the city budget. What amount from the contract, if any, should Brown Thumb recognize as income this year

Respuesta :

Answer:

$14,000

Explanation:

The amount that should reported as the income for this year is $14,000 as if he takes the other amount so he wants to adjust the amount in order to reconcile the real amount of income

So as per the given situation this year amount i.e. $14,000 would be considered and the other amount i.e. $12,000 would be ignored

SO the same is to be relevant

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