Question
John's Shoe Store reported revenue of $375,000 in its cash basis income statement for the year ended December 31, 2018. Additional information from the books:
John's Shoe Store reported revenue of $375,000 in its cash basis income statement for the year ended December 31, 2018. Additional information from the books:
| Accounts receivable December 31, 2017 | $50,000 |
| Accounts receivable December 31, 2018 | 75,000 |
| Deposits on custom orders in 2018 | 10,000 |
What would John's Shoe Store's revenue be under the accrual basis of accounting?
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Managerial Accounting Creating Value In A Dynamic Business Environment
Authors: Ronald W Hilton
6th Edition
0071113142, 978-0071113144
