Vaughn corp. maintains its financial records on the cash basis of accounting. interested in securing a long-term loan from its regular bank, vaughn corp. requests you as its independent cpa to convert its cash-basis income statement data to the accrual basis. you are provided with the following summarized data covering 2019, 2020, and 2021.

2019 2020 2021
cash receipts from sales:
on 2016 sales $279,330 $172,620 $27,710
on 2017 sales –0– 384,420 84,570
on 2018 sales 417,080
cash payments for expenses:
on 2016 expenses 190,150 71,300 22,550
on 2017 expenses 36,140 (a) 162,710 59,250
on 2018 expenses 49,340 (b) 212,270
aprepayments of 2019 expenses.
bprepayments of 2020 expenses.

using the data above, prepare abbreviated income statements for the years 2019 and 2020 on the cash basis.

Alandlord rented an art studio to an artist. under the terms of the signed, written, two-year lease, the artist agreed to pay the landlord $1,000 per month and to assume responsibility for all necessary repairs. after the first year of the lease, the artist assigned the balance of his lease to a sculptor. the landlord approved the sculptor as a tenant and accepted two rent payments from her, and then the landlord sold the building to an investor. the sculptor had made two payments to the investor when an electrical fire broke out in the studio, injuring the sculptor. the fire was caused by faulty wiring. the landlord was aware that there was a dangerous wiring problem when he leased the property to the artist. but when the landlord discovered how costly repairs would be, he decided it would be more profitable to sell the property than to repair it. the problem was not easily discoverable by anyone other than an expert electrician, and the landlord did not tell the artist, the sculptor, or the investor about the problem. the sculptor sues to recover damages for her injuries. from whom can the sculptor recover?

Schonhardt corporation's relevant range of activity is 2,500 units to 5,500 units. when it produces and sells 4,000 units, its average costs per unit are as follows: averagecost per unitdirect materials $ 7.60direct labor $ 2.90variable manufacturing overhead $ 1.65fixed manufacturing overhead $ 2.90fixed selling expense $ 0.95fixed administrative expense $ 0.65sales commissions $ 0.75variable administrative expense $ 0.65if 4,500 units are produced, the total amount of fixed manufacturing cost incurred is closest to: multiple choicea $16,800b $11,400c $11,600d $15,400

In canada, the reference base period for the cpi is 2002. by 2012, prices had risen by 21.6 percent since the base period. the inflation rate in canada in 2013 was 1.1 percent. calculate the cpi in canada in 2013. hint: use the information that “prices had risen by 21.6 percent since the base period” to find the cpi in 2012. use the inflation rate formula (inflation is the growth rate of the cpi) to find cpi in 2013, knowing the cpi in 2012 and the inflation rate. the cpi in canada in 2013 is round up your answer to the first decimal. 122.9 130.7 119.6 110.5