Chapter C, Problem 9E

Mila Services collected $278,000 from customers in 2022. Of the amount collected, $134,000 was from services performed in 2021. In addition, Mila performed services worth $189,000 in 2022, which will not be collected until 2023. Mila Services also paid $217,000 for expenses in 2022. Of the amount paid, $156,000 was for expenses incurred on account in 2021. In addition, Mila incurred $172,000 of expenses in 2022, which will not be paid until 2023. Compute 2022 cash-basis net income.

Ramos Corporation deposits all cash receipts on the day they are received and makes all cash payment by check.

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Financial accounting

Given the solution and accounting

What was Granger manufacturing's adjusted COGS amount for 20X3?

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