Assume that ABC Co has collected cash from customer in the amount of Birr. 150,000

and paid operating expense of birr 100,000 for the period ended on September 30,2012.

The following table also shows additional information :

Account names

September 30,2012

September 30,2012

Account receivable

12,000

16,000

Prepaid expense

5,400

3,300

Unearned revenue

32,000

28,000

Accrued expense

18,000

16,000

Required... Find profit. For ABC Co.. As at September 30 ,2012

1, based on cash basis of accounting ,

2, based on accrual basis of accounting,

3. based on modified cash basis of accounting.,