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E4-1B_Cash basis to accrual basis accounting

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Question;E4-1B;Your examination of the records of a company that follows the cash basis of accounting;tells you that the company?s reported cash basis earnings in 2010 are $33,640.;If this firm had followed accrual basis accounting practices, it would have;reported the following year-end balances.;2010 2009;Accounts;receivable $3,400 $2,300;Supplies;on hand 1,400;1,160;Unpaid;wages owed 1,500 2,400;Other;unpaid amounts 1,300 1,600;Instructions;Determine the company?s net earnings on an accrual basis;for 2010. Show all your calculations in an orderly fashion.

 

Paper#37198 | Written in 18-Jul-2015

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