ewconnect.mheducation.com/flow/connect.html late-Google Toshiba Start T, Toshiba

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ewconnect.mheducation.com/flow/connect.html late-Google Toshiba Start T, Toshiba-Care O Netflix Quick Guide How- Quick Study 6 x T Home - Welcome to Toshiba Toshiba Start T Toshiba +Care Netflix Quick Guide How... Saved O You received partial credit in the pre In its first year of operations, Roma Company reports the following . Earned revenues of $46,000 ($38,000 cash received from cus Incurred expenses of $26,000 ($20,600 cash paid toward the - Prepaid $7,000 cash for costs that will not be expensed until rn Compute the company's first-year net income under both the cas Cash BasisAccrual Basis 38,000r s Revenues Expenses Net income 46,000 26,000 20,000

Explanation / Answer

Cash Basis Accrual Basis Revenues $38,000 $46,000 Expenses $27,600 $26,000 Net Income $10,400 $20,000

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