Bob Buttons, a cash basis calendar year taxpayer, owns and operates an apartment building. During 20X1, he received the following payments: Lease cancellation fee from an old tenant $500 Rent from a new tenant covering the period from July 1, -20X2 5,000 Security deposit on June 30, 20X1, to be returned to the tenant if no damage has occurred 700 What is the amount of Bob's gross rental income for 20X1

Diversified semiconductors sells perishable electronic components. some must be shipped and stored in reusable protective containers. customers pay a deposit for each container received. the deposit is equal to the container’s cost. they receive a refund when the container is returned. during 2018, deposits collected on containers shipped were $856,000. deposits are forfeited if containers are not returned within 18 months. containers held by customers at january 1, 2018, represented deposits of $587,000. in 2018, $811,000 was refunded and deposits forfeited were $41,000. required: 1. prepare the appropriate journal entries for the deposits received and returned during 2018. 2. determine the liability for refundable deposits to be reported on the december 31, 2018, balance sheet.

River corp's total assets at the end of last year were $415,000 and its net income was $32,750. what was its return on total assets? a. 7.89%b. 8.29%c. 8.70%d. 9.14%e. 9.59%

Three fundamental issues separate net income and cash flow. which of the answers below is not one of these three fundamental issues? interest expense noncash accounting noncash expense items accrual accounting