Answer:
C. $12,000 under the cash method and $4,000 under the accrual method
Explanation:
Under the cash basis of accounting, whenever an amount is received or paid, it is recognized in the books of accounts
Whereas, on the accrual basis of accounting, the cash received / payment or not it is recognized in the books of accounts. It is recorded when it is earned not when it is received or paid.
So, by this above information
The cash method would recognize $12,000 ($1,000 × 12 months)
Whereas
The accrual method would recognize $4,000 ($1,000 × 4 months)
We assume the books are closed on December, 31
Vaughn's net income for the year 2022 is: c. $88,000.
<h3>Net income</h3>
Using this formula
Net income=Revenues - expenses
Where:
Revenues=$735,000
Expenses=$647,000
Let plug in the formula
Net income=$735,000-$647,000
Net income=$88,000
Therefore the correct option is c.
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Answer:
C. Stockholders are given discounts on the company's products.
Explanation:
The powers of stockholders are to be given discounts on the company's products.
Independent Regulatory Boards and Commissions, Government organizations that direct different businesses, businesses or financial segments. They are shaped and concurred by power by Congress to control a particular industry, and there are 38 of these offices some of which includes the FCC and the FAA
Ice Wines
Ice wines are a type of dessert wine with a characteristic sweet taste. They are made from grapes that have been frozen (i.e. by frost) while still on the vine, and are thus mostly produced in countries in which favorably cold temperatures at certain times of the year can be attained with regularity. These countries include Germany and Canada.
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Since the grapes are frozen on the vine, only the water freezes, and not the sugars and other dissolved solids. This produces only smaller amounts of wine which is more concentrated and very sweet. However, the sweetness is balanced by its high acidity, making it refreshingly sweet. </span>
