In 2016, farmer Jane's cash income was $629,000, and her cash expenses were $382,000. At the beginning of 2016, she had $27,000 of accounts receivables and $36,000 prepaid expenses. At the end of 2016, she had $18,000 of accounts receivable and $19,000 prepaid expenses. The value of her crops in inventory went up by $13,000 and her machinery depreciated by $37,000 during the year. What is her adjusted accrual income for the year? $633,000 $651,000 a. b. с. $607,000 d. $625,000 What is her adjusted accrual expenses for the year? $402,000 a. b. $436,000 $328,000 $362,000 с. d. What is her adjusted net farm income from operations? $247,000 $197,000 $231,000 $215,000 a. b. с. d.

In 2016, farmer Jane's cash income was $629,000, and her cash expenses were $382,000. At the beginning of 2016, she had $27,000 of accounts receivables and $36,000 prepaid expenses. At the end of 2016, she had $18,000 of accounts receivable and $19,000 prepaid expenses. The value of her crops in inventory went up by $13,000 and her machinery depreciated by $37,000 during the year. What is her adjusted accrual income for the year? $633,000 $651,000 a. b. с. $607,000 d. $625,000 What is her adjusted accrual expenses for the year? $402,000 a. b. $436,000 $328,000 $362,000 с. d. What is her adjusted net farm income from operations? $247,000 $197,000 $231,000 $215,000 a. b. с. d.

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter4: Gross Income: Concepts And Inclusions

Section: Chapter Questions

Problem 55P

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