FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Blossom Company had the following transactions during 2021: Sales of $10620 on account . Collected $4720 for services to be performed in 2022 Paid $4430

image text in transcribed

Blossom Company had the following transactions during 2021: Sales of $10620 on account . Collected $4720 for services to be performed in 2022 Paid $4430 cash in salaries for 2021 Purchased airline tickets for $590 in December for a trip to take place in 2022 What is Blossom's 2021 net income using accrual accounting? O $6190 O $11500 O $6780 O $10910

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Only Auditors Can Save The World Through Peace And Reconciliations

Only Auditors Can Save The World Through Peace And Reconciliations

Authors: Marina Peters

1st Edition

B08C47KG6N, 979-8657479355

More Books

Students also viewed these Accounting questions

Question

★★★★★
The liabilities and shareholders' equity items (in millions) that follow were taken from the March 31, 2016, balance sheet for Saputo Inc.: Accounts payable and accrued...

Answered: 1 week ago

Question

★★★★★
Table 2.14 is from a recent General Social Survey. For these data, X2 = 69.2. Write a short report summarizing inference. In your report, mention an alternative test of independence that is relevant...

Answered: 1 week ago

Question

★★★★★
Staff members perceived efficacy for resolving a bullying situation is highly related to their likelihood of intervening effectively (Bradshaw et al., 2007; Nicolaides et al., 2002). What is the...

Answered: 1 week ago

Question

★★★★★
The Smelting Department of Massaro Manufacturing Company has the following production and cost data for November. Production: Beginning work in process 2,000 units that are 100% complete as to...

Answered: 1 week ago

Question

★★★★★
Blossom Company had the following transactions during 2021: Sales of $10620 on account . Collected $4720 for services to be performed in 2022 Paid $4430 cash in salaries for 2021 Purchased airline...

Answered: 1 week ago

Question

★★★★★
On April 1, 2019, Gino Co. issued at par $200,000 of 9% convertible bonds. Each $1,000 bond is convertible into 20 shares of common stock. No bonds were converted during 2019. Gino had 40,000 shares...

Answered: 1 week ago

Question

★★★★★
Describe how a company's failure to determine its design capacity and system capacity will affect its ability to turn a profit. Give a concrete example to demonstrate this effect Note: In Essay Form

Answered: 1 week ago

Question

★★★★★
Q 1 . ?Consider the anthropomorphic arm as shown in Fig. where the link frames have been illustrated, determine the manipulator Jacobian matrix and analyze it . ( solve with complete step numerically...

Answered: 1 week ago

Question

★★★★★
As a health care consumer who recently switched to a managed care health plan, you were very worried about the quality of the care provided to you. You were wondering if there were any reviews of...

Answered: 1 week ago

Question

★★★★★
Given the estimated regression equation E(Y) = 30 + 2(x1) - 3(x2) + 10(x1x2) where x1= age and x2-gender (0 is female, 1 otherwise) what is the estimated value of Y when x1= 30 and x2-female? 90 387...

Answered: 1 week ago

Question

★★★★★
Consider a call center for software support: - 3 representatives answer phones (each can handle all types of calls) - Calls arrive according to a Poisson process. On average, there are 20 calls per...

Answered: 1 week ago

Question

★★★★★
Discuss how the HRM function can define its mission and market. page 667

Answered: 1 week ago

Question

★★★★★
List the advantages and disadvantages of the pay programs. page 505

Answered: 1 week ago

Question

★★★★★
Describe how organizations combine incentive plans in a balanced scorecard. page 517

Answered: 1 week ago

Previous Question Next Question