Discussion Anne Marie, the owner of Anne’s Beauty Salon, comes to see you again. She tells you that she just got her year-end set of financial statements from her accountant and is more confused.

Get perfect grades by consistently using www.college-experts.com. Place your order and get a quality paper today. Take advantage of our current 20% discount by using the coupon code GET20


Order a Similar Paper Order a Different Paper

Discussion

Anne Marie, the owner of Anne’s Beauty Salon, comes to see you again.  She tells you that she just got her year-end set of financial statements from her accountant and is more confused.  Here are her questions.

  1. I have very little cash and yet he says that I had a good year with $15,000 net income.  He said it was because we use accrual accounting (whatever that means).  I know I paid 6 month’s rent ($1,400 a month) in advance at the end of the year.  I also paid my insurance for the next year.  Insurance cost $6,000.  I have several customers who had a lot of services done on credit and haven’t paid yet.  I think that totals $11,948 owed to me.  Can you explain?
  2. I was paid $200 in advance for some hair coloring I will do in January.  He tells me that’s a liability.  That doesn’t make any sense to me?  Please explain.
  3. In December I did several hair several haircuts during the last week of the year and sent bills to all the customers?  When is that counted?

How would you answer these questions?

Writerbay.net

Do you need help with this or a different assignment? We offer CONFIDENTIAL, ORIGINAL (Turnitin/LopesWrite/SafeAssign checks), and PRIVATE services using latest (within 5 years) peer-reviewed articles. Kindly click on ORDER NOW to receive an A++ paper from our masters- and PhD writers.

Get a 15% discount on your order using the following coupon code SAVE15


Order a Similar Paper Order a Different Paper