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A Company Using the Cash Basis of Accounting Reports Net

Question 283

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A 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: A 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: Instructions: Determine the company's net income under the accrual basis of accounting. Show your calculations. Use the column headings shown below. Instructions:
Determine the company's net income under the accrual basis of accounting. Show your calculations. Use the column headings shown below. A 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: Instructions: Determine the company's net income under the accrual basis of accounting. Show your calculations. Use the column headings shown below.

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