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*please provide as much work and info as possible 4 NCH Company had the following transactions that took place during the first two years of
*please provide as much work and info as possible 4 NCH Company had the following transactions that took place during the first two years of operations Year 1 Year 2 $140,000 $245,000 Cash Collected from Customers on credit sales kash Disbursements: Rent 40.000 -0- Salaries 20,000 40,000 Advertising 15.000 25,000 Utilities 5,000 5.000 Office Equipment 25,000 Customers owed the company S60,000 and $85,000 at the end of year 1 and 2 respectively. * The rent payment was for a two-year period ** At the end of year 1, NCH owed $5,000 of salaries to its employees, *** NCH estimates that the office equipment has a 5-year useful life. There were no liabilities at the end of year 2 Using the above information, please calculate NCH's assual basis net income at the end of year 1? A. S235,000 B. $275,000 C. $110,000 D. $130,000 E. None of the above 5. Continue with the previous NCH fact patter and calculate NCH's accrual basis net income at the end of year 2? A. S180,000 B. $195,000 C. $200,000 D. S175.000 E None of the above
*please provide as much work and info as possible
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