Brief Exercise 1-1 (Algo) Accrual accounting [LO1-2] Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers, $290,000; Cash paid for rent, $30,000; Cash paid to employees for services rendered during the year, $110,000; Cash paid for utilities, $40,000. In addition, you determine that customers owed the company $50,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,000 at year-end, and the rent payment was for a two-year period. Calculate accrual net income for the year.

Feedback systems do not always involve negative feedback. economic inflation, which is evidenced by continually rising prices, is a positive feedback system. a positive feedback control system, as shown on the right, adds the feedback signal to the input signal, and the resulting signal is used as the input to the process. a simple model of the price-wage inflationary spiral is shown on the right. add additional feedback loops, such as legislative control or control of the tax rate, to stabilize the system. it is assumed that an increase in workers’ salaries, after some time delay, results an increase in prices. under what conditions could prices be stabilized by falsifying or delaying the availability of cost-ofliving data? how would a national wage and price economic guideline program affect the feedback system?