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alukav5142 [94]
3 years ago
11

A company provided $1,500 of services to customers during the month of May. The customers paid in June. What would the impact of

these transactions be during May on (1) the balance of cash, (2) cash-basis net income, and (3) accrual basis net income?
Business
1 answer:
alex41 [277]3 years ago
6 0

Answer:

The answer is 3. accrual basis net income

Explanation:

Accrual basis is the effects of transactions on a reporting entity's economic resources in the period in which those transactions occur, even if the resulting cash receipt and payment occur in a different time.

The $1,500 will be recorded in the month of May

Cash basis recognizes transactions in the period in which cash receipts and payment occur. This can be found in government account.

Option 1 is not correct because this is not a basis in preparing financial statement

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The LPC (least-preferred coworker scale) <u>measures an individual’s leadership orientation, where high scores have high human relations orientation and low scorers have high task orientation.</u>

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Take Test: Lab 3: Saving for Retirement Quiz Suppose Betty saves $200 each month in her 401(k) account. How much less will her m
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Answer:

$160

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Both country 1 and country 2 are located on their respective production possibilities frontiers (PPFs) for consumer goods and ca
nikdorinn [45]

Answer:

A) Country 1's PPF lies further to the right than country 2's PPF.

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Production Possibility Curve shows the combination of two goods, that an economy can produce - by utilising given resources & technology best efficiently.

If country 1 produces twice the output of both goods compared to country 2. Then, country 1's PPF would lie further to the right than country 2's PPF.  As, more quantities implies rightward shifted PPC, signifying more quantities of goods that can be produced.

Efficient or inefficient production leads to production inside or on PPC, doesn't shift PPC. Population change is also irrelevant in this case.

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You never give your employees gifts, but one of your employees always gives you gifts for holidays, birthdays, and boss' day. is
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Technically speaking, it won't be wrong for you to accept the gifts.

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True or False: Marginal analysis involves comparing the additional or extra benefit derived from consuming an additional unit of
Likurg_2 [28]

Answer:

True

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Thus, the statement stated here is True.

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