The writer is very fast, professional and responded to the review request fast also. Thank you.
Comparison of cash and accrual basis accounting
A jurisdiction has legally obligated expenses in Fiscal Year 2014 totaling $1,000,000. The jurisdiction has legally recognized and collectible revenues of $1,100,000.
(1) Under cash basis accounting, what would be the year-end balance if the jurisdiction only pays its vendors and employees $800,000 of its legally obligated expenses and receives all of its legally collectible revenues? The remainder of its expenses would be paid in Fiscal Year 2016. What would be the accrual basis balance under these conditions?
(2) Under cash basis accounting, what would be the year-end balance if the jurisdiction pays all of its legally obligated expenses but has received only $900,000 of its legally collectible revenues? What would be the accrual basis balance under these conditions?
1.a. Under the Cash accounting basis where revenue and expenses are recognized whenthey are received from customers and when paid to employees and supplierrespectively, the end year balance will…
Show more
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more