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Calculate Accrual Basis Gross Revenue using the following facts: Cash disbursements $940,000 Beginning inventories $62,000 (expenses) Cash receipts $1,038,000 (revenue) Ending inventories $55,000 Depreciation expense
Calculate Accrual Basis Gross Revenue using the following facts: Cash disbursements $940,000 Beginning inventories $62,000 (expenses) Cash receipts $1,038,000 (revenue) Ending inventories $55,000 Depreciation expense $25,000 Beginning accounts Ending accounts receivable receivable $10,200 5,200 Beginning accounts payable 4,700 Ending accounts payable Ending unused supplies Ending prepaid expenses 5,200 20,000 Beginning unused supplies 10,500 Beginning prepaid expenses 20,000 22,000
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