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Vlad [161]
3 years ago
10

McGinnis Construction is a cash-basis company with a fiscal year-end of June 30. McGinnis’ employees earn a normal weekly wage o

f $12,500 during a five-day work week. June 30 falls on a Thursday for the current year. McGinnis also performed services of $40,900 during the last four days of June, but they are not paid in full until July 8. As a result of operations, there will be an ________ of McGinnis’ net income for the most recent fiscal year of:
Business
1 answer:
viva [34]3 years ago
5 0

Answer:

As a result of operations, there will be an understatement of McGinnis’ net income for the most recent fiscal year of 30900

Explanation:

Services             40900

Weekly wage     10000

FY end on June  30900

The cash basis is a method of recording accounting transactions for revenue and expenses only when the corresponding cash is received or payments are made. Thus, you record revenue only when a customer pays for a billed product or service, and you record a payable only when it is paid by the company

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<u><em>Vegetables wilt or soften and their color intensifies as they boil</em></u>.

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       When boiling vegetables, the flavor will not intensify, just the color, and it's shape. The water will drain any tase from the vegetable, but it will cause the food to go limp and get softer. Boiling is a famous way to cook your favorite vegetables, although the taste is not highly favored among lots of people.

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