User Account

All Pages

Determine the companys net earnings on an accrual basis

Assignment Help Accounting Basics
Reference no: EM131145705

1. Your examination of the records of a company that follows the cash basis of accounting tells you that the company's reported cash basis earnings in 2012 are $33,640. If this firm had followed accrual basis accounting practices, it would have reported the following year-end balances.

Instructions

Determine the company's net earnings on an accrual basis for 2012. Show all your calculations in an orderly fashion. 

Reference no: EM131145705

Questions Cloud

Define stories and do research to find out why they go viral : Select three viral ads from the 20 most viral ads of 2015 (http://www.adweek.com/news-gallery/advertising-branding/20-most-viral-ads-2015-168213). Describe the stories and do research to find out why they could go viral.
Describe the key characteristics of a whistleblower : Describe the key characteristics of a whistleblower, and briefly summarize one (1) researched instance of whistleblowing in one (1) publicly traded company within the last 12 months
What is the estimated real rate of interest : suppose you purchase a $5,000 bond that pays 7 percent interest annually and matures in five years. if the inflation rate in recent years has been steady at 3 percent annually, what is the estimated real rate of interest?
Does the disparity of pay violate the utilitarianism view : Does the disparity of pay violate the utilitarianism view? Why or why not? Do you feel that the Lilly Ledbetter Act will help to decrease the disparity between men and women? Why? What are some of the roadblocks that many women face today to get equa..
Determine the companys net earnings on an accrual basis : Your examination of the records of a company that follows the cash basis of accounting tells you that the company's reported cash basis earnings in 2012 are $33,640.
Which of the following is true of tort law : Which of the following is true of tort law? Which of the following statements is true of the WARN Act
Define the first step of research in your own words : Identify the major assumptions and bias of the drug industry that underlie drug research. Identify the personal bias that you, as a consumer, have on the drug industry's influence over research.
Dorfner company recognizes revenue at the end : For each situation, list the assumption, principle, or constraint that has been violated, if any. Some of these assumptions, principles, and constraints were presented in earlier chapters. List only one answer for each situation.
Compute the expected present discounted value : For which of the problems listed in (a) through (c) would you want to use real payments and real interest rates, and for which would you want to use nominal payments and nominal interest rates to compute the expected present discounted value? In e..

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Larry was given a 1500 tuition scholarship to attend

federal income tax 1 scholarships. for each of the following indicate the amount that must be included in the taxpayers

  Assume that supermart inc has decided to surface and

assume that supermart inc. has decided to surface and maintain for 10 years a vacant lot next to one of its

  The president of deanza-foothill company is puzzled during

the president of deanza-foothill company is puzzled. during the last year the company experienced a net loss of 800000

  There were 10000 of wages earned by employees in 2009 and

the 2009 and 2010 financial statements of daffney company contain the following errors1.the ending inventory was

  Srb corp is considering purchasing one of two new

srb corp. is considering purchasing one of two new diagnostic machines. either machine would make it possible for the

  Determine the equal annual withdrawls

Beginning on december 31, 2011, six equal annual withdrawals are to be made. Determine the equal annual withdrawls if $11,000 is invested at 10% interest compounded annually on December 31, 2010

  A private-purpose trust fund sold investments in securities

a private-purpose trust fund sold investments in securities having a carrying value of 23000 for 26000 resulting in a

  On october 1 2012 joy co issued 500 five-year bonds with a

on october 1 2012 joy co. issued 500 five-year bonds with a face value of 1000 each and a stated interest rate of 6

  Effect on cash received and interest expense recognized

Prepare a statement of cash flows for the year ended December 31, 2015 using the indirect method. (Hint: for any accounts where the balance changed.

  On january 1 2010 kloppenberg company had accounts

on january 1 2010 kloppenberg company had accounts receivable 139000 notes receivable 25000 and allowance for doubtful

  Given the following scenario indicate when the firm should

given the following scenario indicate when the firm should recognize revenue and why. tomson telecom maintains an

  Compute the product margins for ex300 and tx500 under the

precision manufacturing inc. pmi makes two types of industrial component parts-the ex300 and the tx500. an absorption

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd