The following data are taken from the cash-basis accounting records of myerson company for the year ended december 31, 2021: selected data as of december 31, 2021 customers billed in 2021 for services provided $ 460,000 cash collections in 2021 for accounts billed in 2020 29,000 cash collections in 2021 for accounts billed in 2021 200,000 cash paid for supplies purchased in 2021 14,000 supplies remaining at the end of 2021 2,200 cash paid for salaries in 2021 11,000 cash paid for annual rent on march 1, 2021 24,000 calculate the amount of revenues and expenses for 2021 under accrual-basis accounting. (round your final answers to the nearest whole dollar.)

Calculate the amount of revenues and expenses for 2021 under accrual-basis accounting.

Revenue                  460,000

Supllies expenses     11,800

Salaries expenses     14,000

Explanation:

1.      

Db Account receivable460000    

Cr Services revenue  460000  460000

2.      

Db Cash29000    

Cr Account receivable  29000    

3.      

Db Cash200000    

Cr account receivable  200000    

4.      

Db Supplies14000    

Cr Cash  14000    

5.      

Db Supplies expenses11800  11800  

Cr Supplies  11800    

6.      

Db Salaries expenses14000  14000  

Cr Cash  14000    

7.      

Db Tax payable24000    

Cr Cash  24000    

net worth is the difference between what you own and what you have. if you exceed your liabilities you have a positive net worth. if your liabilities are greater than your assets you have a negative net worth. its a snapshot of your financial situation. if you calculate your net worth you will see the end result of everything you've earned and spent as of now. net worth statements and all you asked of can you determine where you are, how to get where you want to be, if your spending   to much. honestly it can tell you a lot of things. i can go on, but you can paint the picture from here.

explanation:

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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