Answer:
(a). 2019 cash-basis net income = $105,000 - $73,200
= $31,800
(b). 2019 accrual-basis net income = ($105,000 - $24,400 + $38,100) - ( $73,200 - $31,000 + $41,100))
= $118,700 - $83,300
= $35,400
(a). 2019 cash-basis net income | $31,800 |
(b). 2019 accrual-basis net income | $35,400 |
Note:
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