accounting

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?

asked by Joyce
  1. Try some of the following links:

    http://search.yahoo.com/search?fr=mcafee&p=how+to+find+a+company%27s+cash+basis+net+income

    Sra

    posted by SraJMcGin

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