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In its first year of operations, Roma Company reports the following.
Earned revenues of $54,000 ($46,000 cash received from customers).
Incurred expenses of $30,000 ($23,400 cash paid toward them).
Prepaid $9,000 cash for costs that will not be expensed until next year.
Problem 1: Compute the company's first-year net income under both the cash basis and the accrual basis of accounting
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How many deposits will he have to make? Victoria deposits $1,500 at the end of every 3 months in an RRSP that is earning 6.90% compounded
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Payment of a trade account payable of $64,500 would - Have no effect on the current and acid-test ratios.
How much would the safety net accumulate to in five years? If the company wants to deposit an equivalent lump sum today, how much would it have to deposit?
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