Nancy operates a business that uses the accrual method of accounting. in december, nancy asked her brother, hank, to provide her business with consulting advice. hank billed nancy for $5,000 of consulting services in year 0 (a reasonable amount), but nancy was only able to pay $3,000 of the bill by the end of year 0. however, nancy paid the remainder of the bill in year 1. a. how much of the $5,000 consulting services will hank include in his income in year 0 if he uses the cash method of accounting? what amount can nancy deduct in year 0 for the consulting services?
Answers: 3
Business, 21.06.2019 20:20
If the demand for a pair of shoes is given by 2p + 5q = 200 and the supply function for it is p − 2q = 10, compare the quantity demanded and the quantity supplied when the price is $90. quantity demanded pairs of shoes quantity supplied pairs of shoes will there be a surplus or shortfall at this price? there will be a surplus. there will be a shortfall.
Answers: 3
Business, 21.06.2019 23:30
Martha is the head of the accounts department in a small manufacturing company. the company follows the accrual-basis method of accounting. it recently purchased raw materials worth $5,000 from its vendors. however, the company paid only $3,000 to its vendors. it plans to pay the remaining amount after three months. considering this information, which entry should martha record in the company’s accounts? a. $5,000 as accounts receivable b. $3,000 as accounts payable c. $2,000 as accounts payable d. $2,000 as accounts receivable
Answers: 3
Business, 22.06.2019 08:30
Most angel investors expect a return on investment of question options: 20% to 25% over 5 years. 15% to 20% over 5 years. 75% over 10 years. 100% over 5 years.
Answers: 1
Business, 22.06.2019 22:30
Using the smith's bbq report, the cost of wine for next week will increase by 2% from the current week. if all other cost of sales stays constant, what will be the approximate total cost of sales for next week?
Answers: 2
Nancy operates a business that uses the accrual method of accounting. in december, nancy asked her b...
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