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Business, 08.02.2021 19:40 animexcartoons209

Skysong Industries collected $92,400 from customers in 2022. Of the amount collected, $22,000 was for services performed in 2021. In addition, Skysong performed services worth $35,200 in 2022, which will not be collected until 2023. Skysong Industries also paid $63,360 for expenses in 2022. Of the amount paid, $26,400 was for expenses incurred on account in 2021. In addition, Skysong incurred $36,960 of expenses in 2022, which will not be paid until 2023. (a) Compute 2022 cash-basis net income.
(b) Compute 2022 accrual-basis net income. Accrual-basis net income $

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Skysong Industries collected $92,400 from customers in 2022. Of the amount collected, $22,000 was fo...
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