Provided $1,350 of piano lessons to students who paid in cash. Provided $1,060 of piano lessons on account. Collected $795 from students who took piano lessons during April. Paid April’s piano rental bill of $600.Received May’s piano rental bill of $650 and set it aside for payment in June. Assuming the company uses accrual basis accounting, what is net income for May?Multiple Choice

$1760

Explanation:

If the company uses accrual basis accounting, the net income will be calculated as:

Cash received for lessons = $1,350

Add: Lessons provided on account = $1,060

Less: Rental bill for may = $(650)

Net income = $1350 + $1060 - $650

= $1760

The net income is $1760

an important city to the south and the region's capital is c. kiev

match the scenarios with terms related to financial aid.

pell grant

student loan

merit-based scholarship

richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.

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anita wants to pursue a certificate program in sports nutrition. to pay for the course, she borrows money by filing the fafsa.

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nathan comes from a low-income household. he wants to pursue an undergraduate degree in marketing. he receives financial aid covering 50 percent of his college expenses. nathan does not have to pay back this amount.

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