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accrual basis net income of the company




Question;A company maintains its records using cash-basis;accounting. During the year, the company received cash from customers, $34,000;and paid cash for taxes, $24,000. At the beginning of the year, customers owe;the company $3,000. By the end of the year, customers owe $5,000. At the;beginning of the year, the company owes taxes of $4,000. At the end of the;year, the company owes taxes of $5,000. What is the accrual basis net income of;the company for the current year?


Paper#37521 | Written in 18-Jul-2015

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