Online Tutoring HomepageHomepage  Quiz QuestionsQuiz  Homework HelpHomework  ForumForum  Active TopicsActive  SearchSearch  HelpHelp
Malaysian EditionMalaysia  ScoreScore  Create QuizCreate  Invite FriendsInvite  Display List of MembersMembers  About UsAbout
  RegisterRegister  LoginLogin
Accounting & Finance
 Online Tutoring : Forum : Homework Help - Economics & Business Studies : Accounting & Finance
Topic Topic: accrual vs. cash accounting Post ReplyNew Question
Message << Prev Topic | Next Topic >>

Joined: 26 April 2007
Location: United States
Posts: 1
Posted: 26 April 2007 at 2:21pm | IP Logged Quote Anharmon0630

In its first year of operations, Harden Co. 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 yearend.
Harden also prepaid $3,750 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.

I am trying to figure out this answer...i came up with 12,750 for the cash basis net income, but I got the same thing for accrual....Help please!!!
Back to Top View Anharmon0630's Profile Search for other posts by Anharmon0630


If you wish to post a reply to this topic you must first login
If you are not already registered you must first register

  Post ReplyNew Question
Printable version Printable version

Forum Jump
You cannot reply to topics in this forum
You cannot delete your posts in this forum
You cannot edit your posts in this forum
You cannot ask questions in Homework Help

Facilitated by Tuition Plaza Malaysia :: Powered by Web Wiz Forums version 7.9
Copyright ©2001-2018 Web Wiz Guide