Unit 2 Discussion Anne Marie, the owner of Annes Beauty Salon continues to ask you...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Unit 2 Discussion Anne Marie, the owner of Annes Beauty Salon continues to ask you questions about her financial statements: What does net income mean on the income statement? The income statement says that I made $15,000 net income, but I only have 949.50 cash. I don't understand why I have so much net income and so little cash. I did several haircuts during the last week of the year and sent bills to all the customers? When is that counted? In December I was paid $200 in advance for some hair coloring I will do in January next year. My accountant tells me thats a liability. That does not make sense
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
