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Skysong Industries collected $92,400 from customers in 2022 . Of the amount collected, $22,000 was for services performed in 2021 . In addition, Skysong performed
Skysong Industries collected $92,400 from customers in 2022 . Of the amount collected, $22,000 was for services performed in 2021 . In addition, Skysong performed services worth $35,200 in 2022, which will not be collected until 2023. Skysong Industries also paid $63,360 for expenses in 2022 . Of the amount paid, $26,400 was for expenses incurred on account in 2021. In addition, Skysong incurred $36,960 of expenses in 2022, which will not be paid until 2023. (a) Compute 2022 cash-basis net income. Cash-basis net income $ (b) Compute 2022 accrual-basis net income. Accrual-basis net income $ eTextbook and Media Attempts: 0 of 3 used
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