Question
Green, a garden designer, keeps her accounting records on a cash basis. During 2011 she received fees of $100,000. Her trade receivables at the beginning
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Green, a garden designer, keeps her accounting records on a cash basis. During 2011
she received fees of $100,000. Her trade receivables at the beginning of the year totalled $20,000 and at the end of the year $30,000. What is her income for 2011 calculated on an accrual basis?
a. $80,000 b. $70,000 c. $160,000 d. $110,000
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Introduction To Accounting And Finance
Authors: Geoff Black
2nd Edition
0273711628, 978-0273711629
