February 26, 2017

Homework Help: acounting

Posted by shelly on Thursday, October 11, 2007 at 1:53pm.

A company earned earned $39,000 in revenues and received $33,000 cash from these customers. The company incurred expenses of $22,500 but had not paid $2,250 of them at years end. Harden also prepaid $3750 cash for expenses that would be incurred the next year. Calculate the first year's net income under both the cash basis and the accrual basis of accounting.

Answer This Question

First Name:
School Subject:

Related Questions

More Related Questions