Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid a license fee of $1,200 for June 1, 2018 through March 31, 2019.

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Answer 1

Question

Chapter 18, Problem 44P

a.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid a license fee of $1,200 for June 1, 2018 through March 31, 2019.

b.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M collected $10,000 for January 2019 rents. Ms. M collected $2,000 for December 2018 rents in January 2018.

c.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid $7,200 for an office equipment service contract for July 1, 2018 through December 31, 2019.

d.

To determine

Calculate the amount of income or deductions of Ms. M for 2019 using cash basis and accrual basis of accounting.

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Answer 2

Question

Chapter 18, Problem 44P

a.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid a license fee of $1,200 for June 1, 2018 through March 31, 2019.

b.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M collected $10,000 for January 2019 rents. Ms. M collected $2,000 for December 2018 rents in January 2018.

c.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid $7,200 for an office equipment service contract for July 1, 2018 through December 31, 2019.

d.

To determine

Calculate the amount of income or deductions of Ms. M for 2019 using cash basis and accrual basis of accounting.

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Answer 3

Question

Chapter 18, Problem 44P

a.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid a license fee of $1,200 for June 1, 2018 through March 31, 2019.

b.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M collected $10,000 for January 2019 rents. Ms. M collected $2,000 for December 2018 rents in January 2018.

c.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid $7,200 for an office equipment service contract for July 1, 2018 through December 31, 2019.

d.

To determine

Calculate the amount of income or deductions of Ms. M for 2019 using cash basis and accrual basis of accounting.

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Answer 4

Question

Chapter 18, Problem 44P

a.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid a license fee of $1,200 for June 1, 2018 through March 31, 2019.

b.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M collected $10,000 for January 2019 rents. Ms. M collected $2,000 for December 2018 rents in January 2018.

c.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid $7,200 for an office equipment service contract for July 1, 2018 through December 31, 2019.

d.

To determine

Calculate the amount of income or deductions of Ms. M for 2019 using cash basis and accrual basis of accounting.

Expert Solution & Answer

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Answer 5

Chapter 18, Problem 44P

a.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid a license fee of $1,200 for June 1, 2018 through March 31, 2019.

b.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M collected $10,000 for January 2019 rents. Ms. M collected $2,000 for December 2018 rents in January 2018.

c.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid $7,200 for an office equipment service contract for July 1, 2018 through December 31, 2019.

d.

To determine

Calculate the amount of income or deductions of Ms. M for 2019 using cash basis and accrual basis of accounting.

Answer 6

Chapter 18, Problem 44P

a.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid a license fee of $1,200 for June 1, 2018 through March 31, 2019.

Answer 7

Chapter 18, Problem 44P

a.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid a license fee of $1,200 for June 1, 2018 through March 31, 2019.

Answer 8

b.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M collected $10,000 for January 2019 rents. Ms. M collected $2,000 for December 2018 rents in January 2018.

Answer 9

b.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M collected $10,000 for January 2019 rents. Ms. M collected $2,000 for December 2018 rents in January 2018.

Answer 10

c.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid $7,200 for an office equipment service contract for July 1, 2018 through December 31, 2019.

Answer 11

c.

To determine

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid $7,200 for an office equipment service contract for July 1, 2018 through December 31, 2019.

Answer 12

d.

To determine

Calculate the amount of income or deductions of Ms. M for 2019 using cash basis and accrual basis of accounting.

Answer 13

d.

To determine

Calculate the amount of income or deductions of Ms. M for 2019 using cash basis and accrual basis of accounting.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 18 - Prob. 1DQ Ch. 18 - Prob. 2DQ Ch. 18 - Prob. 3DQ Ch. 18 - Prob. 4DQ Ch. 18 - Prob. 5DQ Ch. 18 - Prob. 7DQ Ch. 18 - Prob. 8DQ Ch. 18 - Prob. 9DQ Ch. 18 - Prob. 10DQ Ch. 18 - Prob. 12DQ

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid a license fee of $1,200 for June 1, 2018 through March 31, 2019.

Solution Summary: The author calculates the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting.

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Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid a license fee of $1,200 for June 1, 2018 through March 31, 2019.

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M collected $10,000 for January 2019 rents. Ms. M collected $2,000 for December 2018 rents in January 2018.

Calculate the amount of income or deductions of Ms. M for 2018 using cash basis and accrual basis of accounting. Assume that Ms. M paid $7,200 for an office equipment service contract for July 1, 2018 through December 31, 2019.

Calculate the amount of income or deductions of Ms. M for 2019 using cash basis and accrual basis of accounting.

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Chapter 18 Solutions