Davos Company performed services on account for $66,500 in Year 1. Davos collected $53,200 cash from accounts receivable during Year 1, and the remaining $13,300 was collected in cash during Year 2. Required
a. e. & f. Record the Year 1 transactions in T-accounts and close the Year 1 Service Revenue account to the Retained Earnings account. Record the Year 2 cash collection in the appropriate T-accounts.
b. & g. Show the Year 1 and Year 2 transactions in a horizontal statements model.
c. Determine the amount of revenue Davos would report on the Year 1 income statement.
d. Determine the amount of cash flow from operating activities Davos would report on the Year 1 statement of cash flows.
h. Assuming no other transactions occur in Year 2, determine the amount of net income and the net cash flow from operating activities for Year 2.

forbearance of student loan payments. under forbearance, your loan payments are postponed (or reduced) but interest continues to accrue during the period of forbearance. if you don't pay the interest during that period, the interest may be “capitalized,” which means it is added to your principal balance.

answer; commerce clearing house;

answer; consideration;

match the scenarios with terms related to financial aid.

pell grant

student loan

merit-based scholarship

richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.

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anita wants to pursue a certificate program in sports nutrition. to pay for the course, she borrows money by filing the fafsa.

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nathan comes from a low-income household. he wants to pursue an undergraduate degree in marketing. he receives financial aid covering 50 percent of his college expenses. nathan does not have to pay back this amount.

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