Rebel Technology maintains its records using cash-basis accounting. During the year, the company received cash from customers, $50,000,

Question

Rebel Technology maintains its records using cash-basis accounting. During the year, the company received cash from customers totaling $50,000 and paid cash for salaries amounting to $21,900. At the beginning of the year, customers owed Rebel $1,100. By the end of the year, the amount owed by customers increased to $8,000. Additionally, at the beginning of the year, Rebel owed salaries of $7,000, which decreased to $4,000 by the end of the year. Based on this information, please determine both the cash-basis net income and the accrual-basis net income for the year.

Anonymous · Accepted Answer

this business is a price setter. hope this

Anonymous · Answer

someone i feel is a leader in my life id have to say would be my mother because she has give me great advice in life and got me out of tough situations. some characteristics she has are creativity, honesty, commitment, respect for others, and communication. one example of a situation when she demonstrated leadership was when i was working late on homework and i started to get stressed and got upset, she asked me if i needed some , and she me with my work. she demonstrated communication and commitment.i don't know if this is exactly what your looking for but i hope this !

Mr. Leone Miller · Answer

It will be beneficial, because it can reduce interest rates and loan terms. this means that you will be paying close to the amount you have borrowed and will have to pay little to no interest paymentshope this

Anonymous · Answer

Answerpredicts that the clash between an exploding population and limited resources will eventually bring economic growth to an end;

Anonymous

Rebel Technology maintains its records using cash-basis accounting. During the year, the company received cash from customers, $50,000,

4 Answers

AI-Powered Insights

Want to answer this question?

Categories

Tags

Related Questions