Ex. 253A company using the cash basis of accounting reports net income for 2014 of $45,460. If the company had used the accrual basis of accounting it would have reported the following year-end balances: 2014 2013 Accounts receivable $3,850 $5,100 Supplies 1,740 1,950 Salaries and wages payable 3,600 2,250 Other unpaid amounts 2,400 2,100Instructions: Determine the company’s net income under the accrual basis of accounting. Show your calculations. Use the column headings shown below.
Originally posted 2018-07-17 03:55:17. Republished by Blog Post Promoter