Homework Answers
Marigold Company
Income Statement 2019
Operating expenses on accrual basis :
| $ | |
| Operating expenses on cash basis | 150,000 |
| Add: Closing accrued expenses | 25,000 |
| Less: Opening accrued expenses | (5,000) |
| Add: Opening prepaid expenses | 10,000 |
| Less: Closing prepaid expenses | (15,000) |
| Operating expenses on accrual basis | $ 165,000 |
Hence, Option "B" is correct.
Operating expenses on accrual basis are $ 165,000
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