Carillo Industries collected $105,000 from customers in 2017. Of the amount collected, $25,300 was for services performed in 201
6. In addition, Carillo performed services worth $41,900 in 2017, which will not be collected until 2018. Carillo Industries also paid $73,800 for expenses in 2017. Of the amount paid, $30,200 was for expenses incurred on account in 2016. In addition, Carillo incurred $41,400 of expenses in 2017, which will not be paid until 2018. A) Compute 2014 cash-basis net income. B) Compute 2014 accrual-basis net income.
The debit side records the expenses, assets, and losses plus there is always a debit balance. If there is an increase in these above accounts than it also contains a debit balance
While the credit side records the revenues, gains, liabilities, and the stockholder equity. If there is an increase in these above accounts than it also contains a credit balance
In the admission of a new partner, the purchase of ownership from an existing partner to a new partner is entirely a personal transaction between the existing partner and the new partner, and the extent of partner bonus (the interest sold on the original partnership amount) is acquired by the exiting partner, but this bonus is not reflected in the partnership agreement, hence the amount credited into the new partner's account is the same as that owned previously by the exiting partner, irrespective of how much the partnership ownership was sold for.
Hence, since Bobbi's partnership capital was $35,300, John's account would be credited with the same amount even if the ownership was sold for $55,900, as the bonus goes to Bobbi.
so she wants to make sure all her correspondence with the authors is professional and looks formal. charlotte has added a citation to the documents on which she is working. in the process of her doing so, word has added the source that she introduced to a ____ of sources, which is now available to any document created using the same user account on that computer.