Answer:
a) Calculate the first year’s net earnings under the cash basis of accounting, and accrual basis of accounting.
cash basis accrual basis
total revenue $23,900 $31,600
operating expenses $12,010 $16,100
<u>prepaid insurance $2,690 </u>
net earnings $9,200 $15,500
b) the accrual basis always provides more useful information because transactions are recorded when they actually occur, not when cash flows (collections or payments) are directly associated to them. This is why the IRS only allows cash basis accounting for certain small businesses or sole proprietorships.
Treasury bonds and Treasury payments among 1926 and 2012 display that inventory returns have been much less unstable than those of bonds and payments.
Treasury bonds pay a fixed charge of hobby each six months till they mature. they're issued in a term of 30 years. you can purchase Treasury bonds from us in Treasury Direct. you furthermore mght can purchase them via a bank or broker.
Treasury payments, which are money marketplace devices, are short term debt instruments issued by using the government of India and are presently issued in three tenors.
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