Solution-Accrued basis net income, Compute the 2010

Accrued basis net income

Assignment Help Managerial Accounting

Reference no: EM13939603

Bee Company collected $150,000 from customers in 2010. Of the amount collected $30,000 was from revenues earned on account in 2009. In addition, the Company earned $47,000 of revenue in 2010, which will not be collected until 2011. The Company also paid $100,000 for expenses incurred on account in 2009. In addition, the Company incurred $44,000 of expenses in 2010, which were not paid until 2011.

(a) Compute the 2010 cash-basis net income (show calculations)

(b) Compute the 2010 accrued-basis net income (show calculations)

Reference no: EM13939603

Questions Cloud

Consider a zero coupon bond : Consider a zero coupon bond (one with zero interest payments). If the bond has a maturity value in seven years of $1000 and you would currently pay $850 for the bond, what is the yield to maturity?

Identify a central arteriole, the surrounding pals : Try to identify a central arteriole, the surrounding PALS, and follicle in the spleen. In your post assignment entry, describe in your own words how these 2-D images relate to 3-D structure.

Organisational structure does not influence on communication : Write an argumentative essay on one of the topics below: Organisational structure does not influence effective communication in an organisation.

What is the beta of your portfolio : You have $116,000 to invest in a portfolio containing Stock X and Stock Y. Your goal is to create a portfolio that has an expected return of 17.8 percent. Stock X has an expected return of 13.4 percent and a beta of 1.30, and Stock Y has an expected ..

Accrued basis net income : Compute the 2010 cash-basis net income (show calculations) Compute the 2010 accrued-basis net income (show calculations)

What is the value today of a security that promises to pay : What is the value today of a security that promises to pay $1,000 in one quarter, with payments increasing at 1% per quarter thereafter? Payments are made each quarter forever. Our opportunity cost of capital is 12% per annum.

Student suffering financial hardship : A written statement of approximately 200 words outlining what new opportunities a bursary will assist a student suffering financial hardship, to continue their studies.

Describe the main points of the drug-control program : Write a report that summarizes the information that the document provides about each major drug category. Briefly describe the main points of the drug-control program that the document outlines. Be sure to address the following questions: What t..

Arithmetic and geometric returns for the stock : A stock has had returns of 12 percent, 19 percent, 21 percent, −12 percent, 26 percent, and −5 percent over the last six years. What are the arithmetic and geometric returns for the stock?

User Account

All Pages

Accrued basis net income

Reference no: EM13939603

Reference no: EM13939603

Questions Cloud

Reviews

Write a Review

Managerial Accounting Questions & Answers

Manage budgets and financial plans

Prepare a retained earnings statement

Prepare a master budget for the three-month period

Construct the companys direct labor budget

Evaluate the predetermined overhead rate

Determine the company''s bid

Compute the pool rates for the different activities

Prepare Company financial statements

Prepare an analysis of terracycles

Discuss the ethical issues

Political resources in emerging markets

Management accounting - ehsan electronics company

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT