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Vaselesa [24]
3 years ago
8

In its first year of operations, Roma Company reports the following:

Business
1 answer:
Vlad [161]3 years ago
7 0

Answer:

Net Income - Cash basis = $10000

Net Income - Accrual basis = $19500

Explanation:

The cash basis of accounting accounts for transactions that occured in cash in the period when cash changes hand. This means that transactions are recorded when the cash is paid or received rather than to the period to which they actually relate to.

Cash basis net income will be,

Net Income = 37000  -  20250  -  6750

Net Income - Cash basis = $10000

The accrual basis of accounting follows that the transactions should be recorded in the period to which they relate to rather then when the cash is paid out or received.

Accrual basis Net income will be,

Net Income - Accrual basis = 45000 - 25500

Net Income - Accrual basis = $19500

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Specialty Auto Parts Company uses the indirect method to prepare its statement of cash flows. Refer to the following information
bulgar [2K]

Answer: $18,700

Explanation

Net cash provided by the operating activities = $108,000

Add: Net cash provided by the financing activities = $16,000

Less : The net cash used for the investing activities = $118,500

The net increase in Cash will now.be:

= ($108,00 + $16,000) - $118,500

= $5,500

Add: Cash at the beginning of the year. This will be:

= $5500 + $13,200

= $18,700

Ending cash balance will be $18700

8 0
3 years ago
According to the model developed in Chapter 3, when government spending increases and taxes increase by an equal amount:
Mariana [72]

Answer:

Correct answer is (B) consumption and investment both decrease.

Explanation:

when government spending increases and taxes increase by an equal amount there will be decrease in both consumption and investment.

7 0
3 years ago
Write any four advantages of living in a community<br><br>​
Lina20 [59]
When you live in a community there is a sense of belonging since people know each other

When you live in a community there is usually security or neighborhood watch to keep you safe

When you live in a community there is cooperative because of there isn’t it won’t be a very happy community

There is a lot of places to be social in a community

When you live in a community there is a cleaner environment due to the city cleaning it
8 0
3 years ago
The field of accounting that focuses on providing information for external decision makers is:.
SSSSS [86.1K]

The field of accounting that focuses on providing information for external decision makers is Managerial accounting. This is further explained below.

<h3>What is Managerial Accounting?</h3>

Generally, Information for external decision-makers is the primary emphasis of managerial accounting. For investment decisions, stockholders rely heavily on management accounting data.

In conclusion, Managerial accounting is a branch of accounting that specializes in the dissemination of economic data to external decision-makers.

Read more about Managerial accounting

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8 0
2 years ago
Under former CEO Kalanick, when Uber entered into a new market, it often disregarded local laws and allowed its drivers to begin
qaws [65]

Answer:

  Is the proposed action legal?

Explanation:

The very first step in the decision tree (below) was ignored. Disregarding local laws is ignoring the question of legality.

8 0
3 years ago
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