Accrual base accounting: Accrual base accounting method measures the actual performance with the business situation by recognizing financial or monetary or economic events regardless occurrence of cash transactions. The main idea is the economic events are identified by corresponding revenues to expenses from time to time in which the deal occurs rather than payment is received. This procedures permits the current
To prepare: To prepare the abbreviate income statements for years 2016 and 2017 on the cash and accrual basis.
To prepare: The abbreviate income statements for years 2016 and 2017 on the cash and accrual basis.
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Intermediate Accounting, Binder Ready Version
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