In its first year of operations harden con. earned 39000 in, Ask an Expert

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In its first year of operations, Harden Con. 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 year-end. The company 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 oaf accounting.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9414860

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