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    CHRISSIEANN31's Avatar
    CHRISSIEANN31 Posts: 1, Reputation: 1
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    May 25, 2009, 02:19 PM
    Accounting, cash basis and accrual basis
    In its first year of operations, Harden Co. earned $39,000 in revenues and received $33,000 cash from
    These customers. The company incurred expenses of $22,500 but had not paid $2,250 of them at yearend.
    Harden also prepaid $3,750 cash for expenses that would be incurred the next year. Calculate
    The first year’s net income under both the cash basis and the accrual basis of accounting.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    May 25, 2009, 08:59 PM

    Please see the guidelines for posting homework problems:
    Ask Me Help Desk - Announcements in Forum : Homework Help
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