Smith & associates had the following information available related to revenues and expenses for the current period: services provided for cash - $120,000 services provided on account - $200,000 expenses paid in cash - $150,000 expenses incurred on account - $40,000 assuming no subsequent collection or payment for revenues and expenses on account, what is smith & associates net income under both the cash and accrual basis of accounting?

Suppose that the world price of steel is $100 a ton, india does not trade internationally, and the equilibrium price of steel in india is $60 a ton. suppose that india now begins to trade internationally. the price of steel in india the quantity of steel produced in india a. does not change; does not change b. falls; increases c. falls; decreases d. rises; decreases e. rises; increases the quantity of steel bought by india india steel. a. increases; exports b. decreases; imports c. decreases; exports d. does not change; neither imports nor exports e. increases; imports

What is a sort of auction for stocks in which traders verbally submit their offers?

Newton industries is considering a project and has developed the following estimates: unit sales = 4,800, price per unit = $67, variable cost per unit = $42, annual fixed costs = $11,900. the depreciation is $14,700 a year and the tax rate is 34 percent. what effect would an increase of $1 in the selling price have on the operating cash flow?