Ihave very little cash and yet he says that i had a good year with $15,000 net income. he said it was because we use accrual accounting (whatever that means). i know i paid 6 month’s rent ($1,400 a month) in advance at the end of the year. i also paid my insurance for the next year. insurance cost $6,000. i have several customers who had a lot of services done on credit and haven’t paid yet. i think that totals $11,948 owed to me. can you explain?

Step-by-step explanation:

Accrual - the accumulation or increase of something over time, especially payments or benefits.

(Accumulation Accounting)

Net Income: $15,000

Spent: 6($1,400)+$6,000

$8,400+$6,000 = $14,400

Current Total (In-hand): $600

Not Been Paid Yet (Not In-hand): $11,948

answer:

total cost for tiles and paints is $924.  

step-by-step explanation:

we have been given that a community hall is in the shape of a cuboid. the hall is 40m long 15m high and 3m wide.

the paint will be required for 4 walls and ceiling.

let us find area of walls and ceiling.

therefore, the area of walls and ceiling is 1410 square meters.

given: cost for 10 litre of paint is $10 and 10 litre paint covers 25 square meter. therefore,

therefore, the total painting cost is $564.

tiles will be required for floor. let us find the area of floor.

given: 1m squared floor tiles costs $3. so,

therefore, the total tiles cost is $360.

now let us find combined total cost of tiles and paint.

therefore, the combined total cost of tiles and paint is $924.