neecee2012
Sep 26, 2012, 03:07 PM
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 2012 are $36,962. If this firm had followed accrual basis accounting practices, it would have reported the following year-end balances.
2012 2011
Accounts receivable $3,772 $2,792
Supplies on hand 1,021 819
Unpaid wages owed 1,490 2,335
Other unpaid amounts 1,320 1,403
Determine the company's net earnings on an accrual basis for 2012.
2012 2011
Accounts receivable $3,772 $2,792
Supplies on hand 1,021 819
Unpaid wages owed 1,490 2,335
Other unpaid amounts 1,320 1,403
Determine the company's net earnings on an accrual basis for 2012.