English Design Gardens Pty Ltd receives $12,000 to design and construct a new garden on 1 January for their client (customer). The design and construction of the garden consists of 6 stages and the work is distributed evenly across these stages. By the end of March, the first three stages have been completed. What revenue if any should be disclosed under the accrual method and the cash method at 31 March?
Group of answer choices
Accrual method $6,000; Cash method $6,000
Accrual method $0; Cash method $6,000
Accrual method $12,000; Cash method $6,000
Accrual method $6,000; Cash method $12,000
根据企业会计准则第14号——收入（2017），在采用权责发生制（即应计制）的情况下，收入应在提供商品或服务时确认，而不是在收到现金时。在本例中，English Design Gardens Pty Ltd完成了6个阶段中的3个，这意味着他们完成了50%的工作。因此，按照应计制，他们应该在3月31日披露的收入为合同总金额的50%，即$12,000 * 50% = $6,000。
采用收付实现制（即现金制）时，收入在收到现金时确认。由于公司在1月1日已经收到了全部的$12,000，所以在3月31日，即使工作还未全部完成，收付实现制下也会将全部$12,000作为收入。
所以，正确的答案是：
Accrual method $6,000; Cash method $12,000
