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dailanniiii
03.03.2020 •
Business
Given the data below for a firm in its first year of operation, determine net income under the accrual
basis of accounting.
Revenue recognized $19,000
Accounts receivable 3,000
Expenses incurred 7,250
Accounts payable (related to expenses) 750
Supplies purchased with cash 1,800
a. $11,750
b. $14,000
c. $9,500
d. $12,200
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Ответ:
correct option is a. $11,750
Explanation:
given data
Revenue recognized = $19,000
Accounts receivable = 3,000
Expenses incurred = 7,250
Accounts payable = 750
Supplies purchased = 1,800
solution
we get here net income that is express as here
Net Income = Revenue recognized - Expenses incurred 1
put here value and we will get net income
Net Income = $19000 - $7250
Net Income = $11750
so here correct option is a. $11,750
Ответ: