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A lawn care company started business on January 1, 2012. The company billed clients $105,000 for lawn care services completed in 2012. By December 31, the company had received $84,000 cash from customers, with the $21,000 balance expected to be collected in 2013. During 2012, the company paid $68,000 cash for various expenses. At December 31, the company still owed $41,000 for additional expenses incurred that have not yet been paid in cash. These expenses will be paid during January 2013.How much income (or loss) should the company report for 2012? Note: The company computes income using cash-basis accounting.
Given the information that follows, draw a cash budget for the XYZ Store for the first six months of 2012. Every prices and costs remain constant. Sales are 80% for credit
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Berg Company adopted a stock-option plan on November 30, 2013, that provided that 73,200 shares of $5 par value stock be designated as available for the granting of options to offi
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