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1. Conan Industries collected $100,000 from customers in 2010. Of the amount collected, $25,000 was from revenue earned on account in 2009. In addition, Conan earned $40,000 of revenue in 2010, which will not be collected until 2011. Conan Industries also paid $70,000 for expenses in 2010. Of the amount paid, $30,000 was for expenses incurred on account in 2009. In addition, Conan incurred $42,000 of expenses in 2010, which will not be paid until 2011.
Instructions
(a) Compute 2010 cash-basis net income.
(b) Compute 2010 accrual-basis net income.
develop five demographic questions to measure gender age years of experience level of education and ethnicity.
The statement provides information about resources consumed during an accounting period. The statement is dated as of a specific point in time. The amounts that are owed to other q\organizations or individuals are reported.
maserati corporation purchased a new machine for its assembly process on august 1 2012. the cost of this machine was
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On March 1, 2015, Wilke Co. issued at 103 plus accrued interest $4,000,000, 9% bonds. The bonds are dated January 1, 2015, and pay interest semiannually on July 1 and January 1. In addition, Wilke Co. incurred $27,000 of bond issuance costs. Compu..
explain the horizontal analysis of financial statements? how does horizontal analysis differ from vertical
tanner-unf corporation acquired as a long-term investment 220 million of 4 bonds dated july 1 on july 1 2013. company
He does not elect to expense any of the asset under S 179 or elect straight line cost recovery. He elects not to take additional first year depreciation. He sells the asset on August 25, 2010 . This is the only asset he acquires in 2009. Determine..
the following informationregarding inventory transactions is available for the month of may.date nbspnbspnbspnbsp
Business Owner: I would like to obtain how much I got and the problems that we faced in the past. I would like to obtain the tax and the cost of producing, too.
Due to high levels of corporate fraud in the 1990s with companies such as Enron and Global Crossing, Congress passed the Sarbanes Oxley Act of 2002 that set new increased standards for the boards of public U.S. companies and accounting firms.
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