题目
题目

Dashboard Assessment Task 1 Quiz1 THU2PM

数值题

Question 3

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思路分析
Here is a step-by-step walkthrough of the given numerical problem and the reasoning behind the accrual profit calculation. First, identify the revenues for 2024. The company reports credit sales of $600,000 and cash sales of $100,000. Under accrual accounting, both credit sales and cash sales in the period are recognized as revenue in that period, regardless of whether the cash has been collected. Therefore, total revenue for 2024 ......Login to view full explanation

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类似问题

Which of the following is true with respect to accrual accounting?

Schneider Incorporated had salaries payable of $60,900 and $91,000 at the beginning and end of the year, respectively. During the year, Schneider recorded $622,000 in salaries expense in its income statement. Cash outflows for salaries during the year were:

Molly's Auto Detailers maintains its records on the cash basis. During the year, Molly's collected $72,800 from customers and paid $20,100 in expenses. Depreciation expense of $3,900 would have been recorded on the accrual basis. Over the course of the year, accounts receivable increased $5,900, prepaid expenses decreased $1,700, and accrued liabilities decreased $1,200. Molly's accrual-basis net income was:

Which method will allow you to book lower expenses, over longer periods of time?

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