Accrued Net Income will be calculated as below:
Sales $72800
Less Expenses $20400
Cash Income $52400
Less: Depreciation $4900
Add: Accounts Receivable Inc $4500
Less: Reduction in Prepaid Exp $1900
Add: Reduction in Acc Liab $1700
Accrued Income $51800
Depreciation will be reduced as its an expense and all expenses will be reduced.
Increase in Accounts Recievables indicate there have been sales which have not been paid for yet, thus sales will increase and this needs to be added
Reduction in Prepaid Expenses refer to expenses being paid off earlier but now need to be recognised, thus these need to be added to expenses
Reduction in accrued liabilitites indicate that expenses of previous period have been paid off now thus those need to be reduced from cash expenses.
Answer:
B is the correct option, because it indicates that rent expense was only recognized in the books of account when paid for in cash.
Explanation:
Cash basis of accounting simply implies that an organization that adopts it recognizes income when received and expense when paid for in cash.
The above is different from accrual basis,where income is recognized when earned(when obligation is discharged by the seller) and expense when incurred(when the goods involved or services have been received)
All other options except B have something to do with payment on account,hence they are wrong.
Liability means to be responsible for something.
It also means that someone or something's presence will probably cause embarrassment or put someone at a disadvantage.
Answer:
There are several factors to consider when accepting a new job offer. It is necessary to analyze whether the working conditions are in accordance with your expectations and career plan.
It is important to consider the roles and responsibilities of the position that you may assume, analyzing the job's assignments will give you a margin to consider whether the job offer is in line with your profile. It is also important to analyze the remuneration and benefits package offered to the position, as this can be advantageous and will influence your choice of accepting or not the offer.
Finally, it is important to analyze whether the offer is an opportunity that will contribute to your personal and professional growth, as in the work environment, there will always be new challenges that will be positive for the development of new skills and knowledge.
Answer:
The total monthly payments that are deductible by Duron are:
$1,200 each month for the next 10 years.
Explanation:
According to the IRS rules, if Duron pays his ex partner payments each month which are not documented by the court, the money is not tax deductible. Therefore, it is beneficial for Duron to receive a court order to pay the additional alimony if Duron plans on enjoying a tax deduction for the additional spousal support of $200.
