Blue spruce industries collected $106,000 from customers in 2020. of the amount collected, $25,700 was for services performed in 2019. in addition, blue spruce performed services worth $41,600 in 2020, which will not be collected until 2021. blue spruce industries also paid $71,700 for expenses in 2020. of the amount paid, $30,800 was for expenses incurred on account in 2019. in addition, blue spruce incurred $43,800 of expenses in 2020, which will not be paid until 2021.
(a) compute 2020 cash-basis net income.
(b) compute 2020 accrual-basis net income.
Answers: 1
Business, 21.06.2019 16:10, KpopSushi
Which one of the following is most apt to align management's priorities with shareholders' interests? compensating managers with shares of stock that must be held for a minimum of three years holding corporate and shareholder meetings at high-end resort-type locations preferred by managers increasing the number of paid holidays that long-term employees are entitled to receive allowing employees to retire early with full retirement benefits paying a special management bonus on every fifth year of employment
Answers: 1
Business, 22.06.2019 06:00, StephanieQueen2003
For 2018, rahal's auto parts estimates bad debt expense at 1% of credit sales. the company reported accounts receivable and an allowance for uncollectible accounts of $86,500 and $2,100, respectively, at december 31, 2017. during 2018, rahal's credit sales and collections were $404,000 and $408,000, respectively, and $2,340 in accounts receivable were written off. rahal's accounts receivable at december 31, 2018, are:
Answers: 2
Blue spruce industries collected $106,000 from customers in 2020. of the amount collected, $25,700 w...
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