Finantial accounting

Here's some questions to research and consider for our third Forum. Please contribute your thoughts and show any calculations you did to arrive at your answer. 1- The Crystal Company earned revenues of $180000 in cash and $220000 on account during 2021. Of the $220000 on account, $61000 was collected in cash during 2021 and the rest was collected in 2022. Crystal incurred expenses of $135000 on account during 2021 and disbursed cash totaling $100000 during 2021. As a small, family-owned (closely held corporation) Crystal chooses to employ the cash-basis. What amount of net income or earnings should Crystal report for 2021? 2--The Jaret Company earned revenues of $150000 in cash and $200000 on account during 2021. Of the $200000 on account, $63000 was collected in cash during 2021 and the rest was collected in 2022. Jaret incurred expenses of $115000 on account during 2021 and disbursed cash totaling $70000 during 2021. As a publicly-traded company, Jaret is required to report in accordance with GAAP-must provide GAAP. based earnings to shareholders. What amount of net income or eamings should laret report for 2021? 3-What does the (new) revenue recognition principle require? 4--On June 1, 2021 Starbuds paid the rent of $114000 for 10 of its store in Tampa and St Petersburg Florida. This rent payment covers the period from June 1, 2021 to November 30, 2021. Starbuds is publicly-traded and reports eamings in accordance with GAAP. On June 1. 2021 Starbuds will record On June 30,2021 Starbuds will record (Please provide two answers for each blank--an account and an amount) 5-During July. 2021. Sadie Corporation eamed $3300 of revenues on account collected $5600 from a cuitomer for services provided in June, 2021. Sadie incurred $860 of repair expense and paid cash for this expense during July, 2021. Sadie alvo pald out 51B0 for June rent expense during Juhy. 2021. Sadie's creditors require that Sadie determine earnings in accordance with GAAP. What amount of net income should Sadie report for the month ended July 31, 2021