In comparing two balance sheets dated a year apart, Cash a year ago was stated at $10,000 and Cash stated at the end of the current year is stated at $12,000. What was the change in Cash? Select one: a. This Cannot be determined with the information provided b. Cash Increased by $2,000 c. Cash Decreased by $2,000 d. Cash stayed the same

You start a new business and during the first year it provides services to customers on account for $10,000. During the year the customers paid you $8,000. Your business incurred $6,000 of expenses on account. During the same year you pay $5000 of those expenses in cash. What is your Net Income on an accrual basis?

You start a new business and during the first year it provides services to customers on account for $10,000. During the year the customers paid you $8,000. Your business incurred $6,000 of expenses on account. During the same year you pay $5000 of those expenses in cash. What is your Net Income on a Cash basis?