1
Q
How Accrual Basis net income is calculated?
A
Net Income Cash + Ending asset (such as AR or Prepaid Expense)-Beginning asset(AR prepaid expense)+Liability increase Beginning-Liability increase ending.
How Accrual Basis net income is calculated?
Net Income Cash + Ending asset (such as AR or Prepaid Expense)-Beginning asset(AR prepaid expense)+Liability increase Beginning-Liability increase ending.
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