In its first year of operations, Grace Company reports the following: Earned revenues of $60,000 ($52,000 cash received from customers); Incurred expenses of $35,000 ($31,000 cash paid toward them); Prepaid $8,000 cash for costs that will not be expensed until next year. Net income under the accrual basis of accounting is.

$25,000

Explanation:

The accrual system of accounting recognizes incomes and expenditures when the economic activity associated with them takes place. Revenue is recorded when a sale is made regardless of whether payment has received or not.

For grace company, revenues as per the accrual system will be

$60,000 and expenditures $35,000

Net income = $60,000 - $35,000

=$25,000

ans.

heterothermic organisms include those organisms that can switch between homeothermic (having body temperature higher than environment) and poikilothermic (having variation in internal body temperature) strategies.

some migratory birds show heterothermy as they decrease their metabolic rate during cold nights to keep their body temperature low. drop in metabolic rate allows increase in production efficiency of birds that reduces the internal body temperature to make it equal to external cold temperature during cold nights.

thus, the correct answer is 'birds allow their temperature drop in order to increase their production efficiency.'

the correct answer for apex is “ doubling a recipe and figuring out how many cups of paint to use are both examples of using math skills”.