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Category > Business & Finance Posted 02 Aug 2017 My Price 12.00

Accrual Accounting concept

Accrual Accounting concept
Answer the following questions (Show your work). 
Revenues of $60,000 was earned, but only $45,000 was collected, Expenses of $36,000 were incurred, but only $30,000 was paid. What is reported net income?
Wages of $2,000 are paid every Friday for a five-day workweek. If year end falls on a Tuesday, the adjusting entry for wages would be recorded at what amount?
Supplies Expense of $3,600 was recorded for a given year. Assuming that $2,400 in supplies were purchased during the year and that $640 in supplies remained at year end, what was the cost of supplies at the beginning of the year,

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Homework Helper
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Status NEW Posted 02 Aug 2017 05:08 PM My Price 12.00

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