Reference no: EM131300870
Listed below are several transactions that took place during the second and third years of operations for RPG Consulting.
Year 2 Year 3
Amounts billed to customers for services rendered $270,000 $370,000
Cash collected from credit customers 180,000 320,000
Cash disbursements:
Payment of rent 72,000 0
Salaries paid to employees for services rendered during the year 132,000 152,000
Travel and entertainment 22,000 32,000
Advertising 11,000 27,000
In addition, you learn that the company incurred advertising costs of $17,000 in year 2, owed the advertising agency $4,200 at the end of year 1, and there were no liabilities at the end of year 3. Also, there were no anticipated bad debts on receivables, and the rent payment was for a two-year period, year 2 and year 3.
1. Calculate accrual net income for both years.
2. Determine the amount due the advertising agency that would be shown as a liability on RPG’s balance sheet at the end of year 2.
|
Annual payment on this loan for cooley? landscaping
: Cooley Landscaping Company needs to borrow ?$25 comma 000 for a new? front-end dirt loader. The bank is willing to loan the funds at 7.5 ?% interest with annual payments at the end of the year for the next 10 years. What is the annual payment on this..
|
|
How do you feel about whistle blowing
: How do you feel about whistle-blowing now that you have read about it? Are you now more sympathetic or less sympathetic to whistle-blowers? Explain using examples from the media.
|
|
Argument and critique the statement
: Consider the question: "Why do physicians and nurses kill more people than airline pilots?" Apply your critical thinking skills to this argument and critique the statement.
|
|
Prepare a memo to the new counselors under your supervision
: Prepare a memo to the new counselors under your supervision. The purpose of the memo is to inform the counselors of the potential ethical issues they could face that deal with their relationships with clients.
|
|
Calculate accrual net income for both years
: Listed below are several transactions that took place during the second and third years of operations for RPG Consulting. Calculate accrual net income for both years. Determine the amount due the advertising agency that would be shown as a liability ..
|
|
Discussion-competitiveness and inventory management
: To be competitive, many fast-food chains expanded their menus to include a wider range of foods. Although contributing to competitiveness, this has added to the complexity of operations, including inventory management. In what ways did the expansi..
|
|
Review christina care health system
: Develop a mission for the organization based upon the information given in the textbook and the organization's website. Include the three elements; What we do, where we are going, and how we will get there.
|
|
What is the income elasticity of demand
: ECO101 Microeconomics - What is the income elasticity of demand? How can it be used to determine whether a good is a normal good or an inferior good? What is the cross-price elasticity of demand? How can it be used to determine whether two goods a..
|
|
Discuss how work groups of the future
: Based on own experiences working in teams, write two page papers on the advantages and disadvantages of working in teams. paper respond to the following: a. Discuss how work groups of the future, including management, will be cross-functional and s..
|