In its first year of operations, Roma Company reports the following. Earned revenues of $58,000 ($50,000 cash received from customers). Incurred expenses of $32,000 ($24,800 cash paid toward them). Prepaid $10,000 cash for costs that will not be expensed until next year. Compute the company’s first-year net income under both the cash basis and the accrual basis of accounting

Minneapolis federal reserve bank economist edward prescott estimates the elasticity of the u. s. labor supply to be 3. given this elasticity, what would be the impact of funding the social security program with tax increases on the number of hours worked and on the amount of taxes collected to fund social security?

Which change is illustrated by the shift taking place on this graph? a decrease in supply an increase in supply o an increase in demand o a decrease in demand

The following items could appear on a bank reconciliation: a. outstanding checks, $670. b. deposits in transit, $1,500. c. nsf check from customer, no. 548, for $175. d. bank collection of note receivable of $800, and interest of $80. e. interest earned on bank balance, $20. f. service charge, $10. g. the business credited cash for $200. the correct amount was $2,000. h. the bank incorrectly decreased the business's by $350 for a check written by another business. classify each item as (1) an addition to the book balance, (2) a subtraction from the book balance, (3) an addition to the bank balance, or (4) a subtraction from the bank balance.