[The following information applies to the questions displayed below] A comparative balance sheet and income statement is shown for Cruz. Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets 2021 At December 31 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 89,000 38,200 80,000 4,900 Sales Cost of goods sold Gross profit 212,100 98,800 (15,300) $ 295,600 $ 13,900 8,200 1,400 23,500 28,900 52,400 215,000 28,208 $295,600 CRUZ, IN CORPORATED Income Statement For Year Ended December 31, 2021 Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income 2020 $ 22,100 46,988 88,000 4,000 161,000 113,386 (8,600) $ 265,700 $19,600 4,600 2,600 26,880 69,000 95,800 169, 100 $ 205,700 $ 454,900 292,886 162,180 83,000 35,000 44,100 16,000 $ 28,180 1. How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis. 2. What is the net increase or decrease in the Cash account for year 2021?

Choose the term that best describes static data? O Static data does not change once it is created. O Static data may change after it is recorded. O Static data is like a website. O Static data is very difficult to record.

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Select the letter of the item below that best matches the definitions that follow. a. Data Files CD ________  b. Lists ________  c. Forms ________  d. Registers ________  e. Reports and graphs ________  f. Restoring a backup ________  g. Icon bar ________  h. Home page ________  i. Backing up a file ________   1. One click access to QuickBooks Accountant Centers and Home page. 2. The process of rebuilding a backup file to a full QuickBooks Accountant file ready for additional input. 3. Electronic representations of paper documents used to record business activities such as customer invoices, vendor bills, and checks. 4. A big-picture approach of how your essential business tasks fit together organized by logical groups such as customers, vendors, and employees. 5. Groups of names such as customers, vendors, employees, items, and accounts. 6. Contains backups of all the practice files needed for chapter work and completion of assignments. 7.  The process of creating a copy of a…

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