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Mathematics, 15.02.2020 21:59 krystlemiller4307
Marigold Industries collected $104,000 from customers in 2019. Of the amount collected, $24,400 was for services performed in 2018. In addition, Marigold performed services worth $39,000 in 2019, which will not be collected until 2020.
Marigold Industries also paid $73,900 for expenses in 2019. Of the amount paid, $29,100 was for expenses incurred on account in 2018. In addition, Marigold incurred $42,200 of expenses in 2019, which will not be paid until 2020.
Compute 2019 cash-basis net income.
Cash-basis net income $enter the cash-basis net income
Compute 2019 accrual-basis net income.
Accrual-basis net income
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Marigold Industries collected $104,000 from customers in 2019. Of the amount collected, $24,400 was...
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