Answer:
$17,600 ; $29,000
Explanation:
The computation of the net income is shown below:
Based on Cash basis
= Received cash - Expenses incurred in cash - prepaid expenses
= $56,000 - $26,900 - $11,500
= $17,600
Based on Accrual basis
= Revenue earned - expenses incurred
= $64,000 - $35,000
= $29,000
The cash expenses incurred is
= $35,000 - $8,100
= $26,900
Answer:
False
Explanation:
It should be detailed, clear and straight to the point. It doesn't have to be anything complicated.
A cycle or series of cycles of economic expansion and contraction.
Answer:
The begining cash balance = $4100
Explanation:
Given:
Cash receipts = $7900, Cash disbursements = $ 9400, Ending cash balance = $2600.
<u>To find out the cash balance at the begining of the month, the following is to be used </u>
Begining Cash balance = Ending cash balance + cash disbursements - cash receipts
Putting the given figures in this we get,
Begining Cash balance = $2600 + $9400 - $7900
= $4100
Answer:
Option c. 5.25 times is the correct answer.
Explanation:
Below is the calculation:
Income before income tax = $420000
Income tax expenses = 120000 dollars
Net income = $300000
Interest expense = $80000
Interest earned ratio = Earning Before Interest and Taxes / Interest Expenses
Interest earned ratio = 420000 / 80000
Interest earned ratio = 5.25 times
Option c. 5.25 times is the correct answer.
