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Exercise 4-04 Your examination of the records of a company that follows the cash basis of accounting tells you that the company's reported cash-basis earnings
Exercise 4-04 Your examination of the records of a company that follows the cash basis of accounting tells you that the company's reported cash-basis earnings in 2022 are $30,500. If this firm had followed accrual-basis accounting practices, it would have reported the following year-end balances. Accounts receivable Supplies on hand Unpaid wages owed Other unpaid expenses 2022 $4,000 1,200 2,110 1,710 2021 $2,200 1,810 2,370 1,060 Determine the company's net earnings on an accrual basis for 2022. Net earnings on an accrual basis for 2022
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