In its first year of operations, Crane Company recognized $31,700 in service revenue, $7,700 of which was on account and stil outstanding at year-end. The remaining $24,000 was received in cash from customers. The company incurred operating expenses of $16,600, of these expenses, $12,690 were paid in cash; $3,910 was stil owed on account at year-end. In addtion, Crane prepaid $3,260 for insurance coverage thet would not be used until the second year of cperations (a) Calcuate the first year's net earnings under the cash basis of accounting, and caleulate the irst years net earnings under the accrual basis of accouriting (b) which basis of accounting (cash or accrual) provides more useful information for decision-makers?
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Business, 22.06.2019 02:30, maxicanofb0011
Based on the supply and demand theory, why do medical doctors earn higher wages than child-care workers?
Answers: 1
Business, 22.06.2019 20:30, boog89
Mordica company identifies three activities in its manufacturing process: machine setups, machining, and inspections. estimated annual overhead cost for each activity is $156,960, $382,800, and $84,640, respectively. the cost driver for each activity and the expected annual usage are number of setups 2,180, machine hours 25,520, and number of inspections 1,840. compute the overhead rate for each activity. machine setups $ per setup machining $ per machine hour inspections $ per inspection
Answers: 1
Business, 22.06.2019 21:20, danielahumajova6
In a market economy, supply and demand are important because theya. (i) play a critical role in the allocation of the economy's scarce resources. b. (ii) determine how much of each good gets produced. c. (iii) can be used to predict the impact on the economy of various events and policies. d. all of (i), (ii), and (iii) are correct.
Answers: 3
Business, 23.06.2019 00:30, RSanyuathey711
Braden’s ice cream shop is losing business. he knows that customers are no longer choosing his product because a competing product has become less expensive, yet he has refused to lower his prices. what has happened to braden’s business?
Answers: 1
In its first year of operations, Crane Company recognized $31,700 in service revenue, $7,700 of whic...
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