Carillo Industries collected $108,000 from customers in 2020. Of the amount collected, $25,000 was for services performed in 2019. In addition, Carillo performed services worth $36,000 in 2020, which will not be collected until 2021. Carillo Industries also paid $72,000 for expenses in 2020. Of the amount paid, $30,000 was for expenses incurred on account in 2019. In addition, Carillo incurred $42,000 of expenses in 2020, which will not be paid until 2021. What's the cash basis income and the accrual basis net income?

step-by-step explanation:

part a. the differences are decreasing, so we know the sequence is not arithmetic. the ratios are constant (=3/4), so we know the sequence is geometric.

part b. from part a, we know the common ratio is 3/4, so each term is 3/4 of the one before. the initial term is the number of gallons at h=1.

g[h] = (3/4)·g[h-1]

g[1] = 384 . . . . initial value required for a recursive definition

part c. the general formula for a geometric sequence is

a[n] = a[1]·r^(n-1)

we have a[1] = 384, r = 3/4, and the term number given by h. the formula that follows is

g[h] = 384·(3/4)^(h-1)

part d. filling in the value and doing the arithmetic, we have

g[12] = 384·(3/4)^11 ≈ 384·0.042235136 ≈ 16.2183 . . gallons

part e. each gallon is 4 quarts, so

16.2183 gal × 4 qt/gal = 64.8732 qt

kayla would of sent 8

step-by-step explanation:

what are your