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Business, 08.07.2019 20:30 benji2246

In its first year of operations, roma company reports the following: earned revenues of $45,000 ($37,000 cash received from customers). incurred expenses of $25,500 ($20,250 cash paid toward them). prepaid $6,750 cash for costs that will not be expensed until next year. compute the company’s first-year net income under both the cash basis and the accrual basis of accounting.

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In its first year of operations, roma company reports the following: earned revenues of $45,000 ($3...
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