skins and bones. Attorneys at taw.mats.is books on a carte. During 2021. La collided 5.000 rendered to its clients and paid out $418.000 inexpenses. You are able to determine the two omation about account receivable, prepaid expenses, deferred service revence, and accruedas 358 S. 5. 9.00 Accounts receivable Prepal Insurance Prepaid rent Defenservice reven Accettabilities for various . 11. 16.10 In action, 2021 depreciation expense on office equipment is $25.000 Required: Determine accrual basis net income for 2021 Add Deduct Pro 6 of 8 Next > Haskins and Jones. Attorneys-at-Law, maintains its books on a cash basis. During 2021, the law firm collected $575.000 for services rendered to its clients and paid out $418,000 in expenses. You are able to determine the following information about accounts receivable, prepaid expenses, deferred service revenue and accrued liabilities: Accounts receivable Prepaid insurance Prepaid rent Deferred service revenue Accrued liabilities (for various expenses) January 1, 2021 $68,000 5.100 9,800 December 31, 2021 558,000 6,600 1,600 11,800 9,860 12,800 16,300 In addition, 2021 depreciation expense on office equipment is $25,000. Required: Determine accrual basis net income for 2021. Add Deduct