Please, I need a correct answer and clear explanation. Thanks! What are the advantages and disadvantages...

Please, I need a correct answer and clear explanation. Thanks!

What are the advantages and disadvantages of using the accrual basis of accounting rather than the cash basis?

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ekkarill92 answered 2 years ago

Please, I need a correct answer and clear explanation. Thanks, Explain how a prepaid expense differs...

Please, I need a correct answer and clear explanation. Thanks, Explain how a prepaid expense differs from an accrued expense.

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Please, I need correct answers and clear explanation. Thanks, Indicate whether each of the following statements...

Please, I need correct answers and clear explanation. Thanks, Indicate whether each of the following statements is true or false: a. Under the accrual basis of accounting, when cash is collected on accounts receivable, revenue is recorded. b. Cash receipts from customers are debited to Accounts Receivable. c. The cash basis of accounting recognizes expenses when they are incurred. d. Under the cash basis of accounting, there is no such thing as a Prepaid Expenses account. e. Asset accounts and...

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Please, I need a correct answer and clear explanation. Thank you, The Retained Earnings account has...

Please, I need a correct answer and clear explanation. Thank you, The Retained Earnings account has a credit balance and credit entries are used to record increases in this account. Why do expense accounts, which are transferred to Retained Earnings when they are closed, have debit balances? Why are debit entries used to record increases in these accounts?

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Please, I need correct answers and clear explanation. You have been provided with the following information about Bibi’s inventory for January 2018. Bibi uses a period inventory system to sell her customized Swell water bottles. While the water bottles come in different colours, she only sells one size so all her units are homogenous. Number of units Cost per unit Total cost Price per unit sold Total revenue January 1–Beginning inventory 1,250 $25.00 $31,250 January 6–Purchase 750 $24.00 $18,000 January...

Please answer all with clear explanation, Thanks. Question 6.In addition to giving information, according to the...

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