Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 31, 2024

Le Boyer Bakery Company had the following transactions during 2021. Sales of $9,000 on account Collected $4,000 for services to be performed in

Le Boyer Bakery Company had the following transactions during 2021. • Sales of $9,000 on account • Collected $4,000 for services to be performed in 2022 • Paid $2,650 cash in salaries • Purchased airline tickets for $500 in December for a trip to take place in 2022 What is the company's 2021 net income using cash basis accounting? A. $1,350 B. $9,850 C. $850 D. $10,350

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

Intermediate Accounting

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy

10th Canadian Edition Volume 2

1118300858, 978-1118300855

More Books

Students also viewed these Accounting questions

Question

★★★★★

If M is the midpoint of XY, find the coordinates of Y when X and M have the following coordinates: X(-4,2), M(0,3) Please write formulas too

Answered: 1 week ago

Question

★★★★★

Each of the following costs pertains to Bailey Dairy Products Company, a dairy processing company. Classify each of the company's costs as a period cost or a product cost. Further classify product...

Answered: 1 week ago

Question

★★★★★

Lenny is considering a lot of different psychological contract items that he could use in addition to the competitive salary he is offering. Can you tell if the following are autonomy and growth,...

Answered: 1 week ago

Question

★★★★★

2. Avoid distracting behaviors, such as tapping a pencil while talking, that interfere with both signals and attention to learning.

Answered: 1 week ago

Question

★★★★★

A high-speed flywheel in a motor is spinning at 500 rpm when a power failure suddenly occurs. The flywheel has mass 40.0 kg and diameter 75.0 cm. The power is off for 30.0 s, and during this time the...

Answered: 1 week ago

Question

★★★★★

Jess contributed a building ( FMV 250000, adjusted tax basis 300000in return for 200 shares of blue, Inc and 50000 cash. The transfers qualify under 351. JESS receipt of boot would not trigger the...

Answered: 1 week ago

Question

★★★★★

Catopia manufactures custom pet beds. In May 2024, Catopia receives a large retail order from a local animal shelter. Catopia finishes sewing and assembling of the beds in June 2024, and the finished...

Answered: 1 week ago

Question

★★★★★

A. If 48.3 L of N? at 27.2C and 706 torr is heated to 126 "C and compressed to 3.33 L, what is the new pressure in torr? Enter your answer in scientific notation. B. A 25.0 g sample of granite at...

Answered: 1 week ago

Question

★★★★★

Question : 1. How can the ANR be prevented? 2. What is machine learning? 3. What is adb? 4. : What is the importance of Android in the mobile market? 5.What is an action? 6. What is the importance of...

Answered: 1 week ago

Question

★★★★★

1. What is AAPT? 2. What is an Income Statement? 3. What is probability? 4. What is democracy? 5. Which elements can occur only once and must be present? 6. What is a Cash Flow Statement?: What is...

Answered: 1 week ago

Question

★★★★★

Question: Enumerate the steps in creating a bounded service through AIDL. What is the use of an activityCreator? What do you think are some disadvantages of Android? What is Newton's first law of...

Answered: 1 week ago

Question

★★★★★

The function f(x,y)=x 2 +xy+y 2 -22y+161 What is the relative maximum value of the function?

Answered: 1 week ago

Question

★★★★★

When Anthony first pitched a new product idea to his manager, it was very well received because he did such a thorough job of researching and analyzing it. He presented a comprehensive forecast that...

Answered: 1 week ago

Question

★★★★★

Reduction in sales All of the above 29. Belt of an electric motor is broken, it needs a. Corrective maintenance b. Scheduled maintenance c. Preventive maintenance d. Timely maintenance. 30. The...

Answered: 1 week ago

Question

★★★★★

What do you think UAs culture might be like in regard to innovation? (HINT: Refer to the list How Do Structural Variables Affect Innovation? on page 210.)

Answered: 1 week ago

Question

★★★★★

What other applications are there for this wastewater technology?

Answered: 1 week ago

Question

★★★★★

Whats your interpretation of the companys philosophy posted prominently over the door of its design studio? What does it say about innovation? What could other companies learn from the way UA...

Answered: 1 week ago

Previous Question Next Question