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SHOW WORK FOR THUMBS UP DO THE WHOLE QUESTION XYZ Company had cash receipts from customers in 2021 of $167,000. Cash payments for operating expenses
SHOW WORK FOR THUMBS UP
XYZ Company had cash receipts from customers in 2021 of $167,000. Cash payments for operating expenses were $122,000. XYZ has determined that at January 1, accounts receivable was $15,000, and prepaid expenses were $17,000. At December 31, accounts receivable was $18,600, and prepaid expenses were $25,200. Compute (a) service revenue and (b) operating expenses. Cash based revenue (CRB) Accrual based revenue (ABR) Cash based expense (CBE) Accrual based expense (ABE) Net Income DO THE WHOLE QUESTION
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