Monty industries collected $105,000 from customers in 2019. of the amount collected, $24,800 was for services performed in 2018. in addition, monty performed services worth $39,200 in 2019, which will not be collected until 2020. monty industries also paid $70,200 for expenses in 2019. of the amount paid, $29,800 was for expenses incurred on account in 2018. in addition, monty incurred $43,900 of expenses in 2019, which will not be paid until 2020.

(a) compute 2014 cash-basis net income. cash-basis net income $
(b) compute 2014 accrual-basis net income. accrual-basis net income $

For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?