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Question - Windsor Industries collected $104,000 from customers in 2020. Of the amount collected, $24,900 was for services performed in 2019. In addition, Windsor performed services worth $41,200 in 2020, which will not be collected until 2021.
Windsor Industries also paid $73,600 for expenses in 2020. Of the amount paid, $30,500 was for expenses incurred on account in 2019. In addition, Windsor incurred $40,500 of expenses in 2020, which will not be paid until 2021.
Required -
(a) Compute 2020 cash-basis net income.
(b) Compute 2020 accrual-basis net income.
In order for the manager to breakeven, the manager must sell 100 units. What is the margin of safety in dollars
(a) Define the terms assets, liabilities, and owner’s equity. (b) What items affect owner’s equity?
National Express Carriers is interested in two attributes: Attribute 1 The average cost of delivering a letter (known to be between $1 and $5)
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Determine the amount of yield to maturity. face value of $ 1,000 with a coupon rate of 10%. Maturity 20 years. The current market price is $ 1,060.
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