Directions: Answer the following questions using the provided scenarios.

Rebel technology maintains its records using cash-basis accounting. during the year, the company received cash from customers, $43,000, and paid cash for salaries, $23,500. at the beginning of the year, customers owe rebel $1,000. by the end of the year, customers owe $6,600. at the beginning of the year, rebel owes salaries of $5,600. at the end of the year, rebel owes salaries of $3,300. determine cash-basis net income and accrual-basis net income for the year.

According to the video, the gross national product had declined from $104 billion in 1929 to about in 1933.

Harmon inc. produces joint products l, m, and n from a joint process. information concerning a batch produced in may at a joint cost of $75,000 was as follows: