October 4, 2015

Homework Help: accounting

Posted by Joyce on Sunday, November 14, 2010 at 9:08pm.

O'Hara Inc. made sales of $310,000 during 2008, it's first year of operations. Of this, $15,000 remained in accounts receivable at the end of the year. Additionally, the company paid and incurred $270,000 in expenses during the year. The company also prepaid $5,000 of its 2009 insurance and recorded $3,000 of depreciation expense in December 2008. What is the company's cash basis net income?

Answer this Question

First Name:
School Subject:

Related Questions

More Related Questions