Elliott Smith is a lawyer who requires Elliott Smith is a lawyer who requires that his clients pay him in advance of legal services rendered. Elliott routinely credits Service Revenue when his clients pay him in advance. In June Elliott collected ,000 in advance fees and completed 70% of the work related to these fees.
“Elliott Smith is a lawyer who requires that his clients pay him in advance of legal services rendere Show more Elliott Smith is a lawyer who requires that his clients pay him in advance of legal services rendered.Elliott routinely credits Service Revenue when his clients pay him in …
Elliott Smith is a lawyer who requires that his clients pay him in advance of legal services rendered. Elliott routinely credits Service Revenue when his clients pay him in advance. In June Elliott collected $15,000 in advance fees and completed 70% of the work related to these fees.
Elliott Smith is a lawyer who requires that his clients pay him in advance of legal services rendered. Elliott routinely credits Service Revenue when his clients pay him in advance. In June Elliott collected $15,000 in advance fees and completed 70% of the work related to these fees. What adjusting entry is required by Elliott’s … Continue reading Elliott Smith is a lawyer who …
If the firm prepares monthly financial statements, the proper adjusting entry on January 31, 2013, will be: Elliott Smith is a lawyer who requires that his clients pay him in advance of legal services rendered. Elliott routinely credits Service Revenue when his clients pay him in advance.
The expense recognition principle requires that efforts be matched with accomplishments. Expense recognition is tied to revenue recognition. The revenue recognition principle dictates that revenue be recognized in the accounting period in which cash is received.
Elliot P Smith is a licensed attorney and a certified public accountant in the State of Utah. Elliot is a partner at the law firm Pearson Butler & Carson, PLLC.
Elliot works hard to understand each of his clients and personalize his services to reach the desired goals.
Elliot has extensive legal, tax and business experience having worked with an international accounting firm in both its federal tax and mergers and acquisition practices as well as with several law firms.
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