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1.Use the following information to answer the questions below. Show your work! (12 pts)...

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Accounting

1.Use the following information to answer the questions below. Show your work! (12 pts)

Cash expenses $125,000 Depreciation $16,500

Beg. inventory $87,000 Cash revenue $210,000

Ending inventory $62,000 Account payable:

Cash paid for new Beginning $12,000

Tractor $55,000 Ending $7,000

a) What is total farm revenue (cash accounting)?

b) What is total farm revenue (accrual accounting)?

c) What are total farm expenses (cash accounting)?

d) What are total farm expenses (accrual accounting)?

e) What is net farm income (cash accounting)?

f) What is net farm income (accrual accounting)?

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