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Guay Corp a start up company provided services that were acceptable to its customers and billed those customers for $350,000 in 2012. However, Guay collected only $280,000 cash in 2012 and the remaining $70,000 of 2012 revenues were collected in 2013. Guay employees earned $200,000 in 2012 wages that we'd not paid until the first week of 2013. How much net income does Guay report for 2012?for 2013 (assuming no new transactions)?
acc565 discussion for week 8
How efficient is the business at turning revenues into profit?
Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds
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