Question
The following is selected information from Punto Corporation for the fiscal year ended October 31, 2021. Cash received from customers 400.000 $ Cash paid for
The following is selected information from Punto Corporation for the fiscal year ended October 31, 2021.
Cash received from customers | 400.000 $ |
Cash paid for expenses | 250.000 |
Income from a partially used bank loan pay for computers | 135.000 |
earned income | 425.000 |
Cash paid for computer on November 1, 2020 3 years to use | 60.000 |
Expenses including depreciation | 289.000 |
What is Punto Corporation's net income for the year ended October 31, 2021, on an accrual basis of accounting?
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from an accrual approach of accounting we have to add up Punto Corporations rev...
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
