Al is a medical doctor who conducts his practice as a sole proprietor. During 2020, he received cash of $379,800 for medical services. Of the amount collected, $30,000 was for services provided in 2019. At the end of 2020, Al had accounts receivable of $88,000, all for services rendered in 2020. In addition, at the end of the year, Al received $18,000 as an advance payment from a health maintenance organization (HMO) for services to be rendered in 2021. a. Compute Al's gross income for 2020 using the cash basis of accounting. $ b. Compute Al's gross income for 2020 using the accrual basis of accounting. $ c. Advise Al on which method of accounting he should use. Al should use the of accounting so that he will not have to pay income taxes on the .

King fisher aviation is evaluating an investment project with the following case flows: $6,000 $5,500 $7,000 $8,000 discount rate 14 percent what is the discounted payback period for these cash flows if the initial cost is 15,000? what if the initial cost is $12,000? what if the cost is $16,000?

Big trail running company has started to produce running apparel in addition to the trail running shoes that they have manufactured for years. they feel that a departmental overhead rate would best reflect their overall manufacturing overhead usage. based on research the following information was gathered for the upcoming year: machining department finishing department estimated manufacturing overhead by department $ 600 comma 000 $ 400 comma 000 trail running shoes 440 comma 000 machine hours 11 comma 000 direct labor hours running apparel 60 comma 000 machine hours 39 comma 000 direct labor hours manufacturing overhead is driven by machine hours for the machining department and direct labor hours for the finishing department. at the end of the year, the following information was gathered related to the production of the trail running shoes and running apparel: machining department finishing department trail running shoes 442 comma 000 hours 10 comma 500 hours running apparel 57 comma 000 hours 40 comma 000 hours how much manufacturing overhead will be allocated to the trail running shoes

Southeastern bell stocks a certain switch connector at its central warehouse for supplying field service offices. the yearly demand for these connectors is 15,000 units. southeastern estimates its annual holding cost for this item to be $25 per unit. the cost to place and process an order from the supplier is $75. the company operates 300 days per year, and the lead time to receive an order from the supplier is 2 working days.a) find the economic order quantity.b) find the annual holding costs.c) find the annual ordering costs.d) what is the reorder point?