43 The following data are taken from the cash-basis accounting records of Myerson Company for the...
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43 The following data are taken from the cash-basis accounting records of Myerson Company for the year ended December 31, 2021: Selected Data as of December 31, 2021 Customers billed in 2021 for services provided Cash collections in 2021 for accounts billed in 2020 Cash collections in 2021 for accounts billed in 2021 Cash paid for supplies purchased in 2021 Supplies remaining at the end of 2021 Cash paid for salaries in 2021 Cash paid for annual rent on March 1, 2021 Saved $400,000 25,000 280,000 14,000 2,400 10,500 23,000 Accrual basis revenues Accrual-basis expenses Calculate the amount of revenues and expenses for 2021 under accrual-basis accounting (Round your final answers to the nearest whole dollar.) 43 The following data are taken from the cash-basis accounting records of Myerson Company for the year ended December 31, 2021: Selected Data as of December 31, 2021 Customers billed in 2021 for services provided Cash collections in 2021 for accounts billed in 2020 Cash collections in 2021 for accounts billed in 2021 Cash paid for supplies purchased in 2021 Supplies remaining at the end of 2021 Cash paid for salaries in 2021 Cash paid for annual rent on March 1, 2021 Saved $400,000 25,000 280,000 14,000 2,400 10,500 23,000 Accrual basis revenues Accrual-basis expenses Calculate the amount of revenues and expenses for 2021 under accrual-basis accounting (Round your final answers to the nearest whole dollar.)
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Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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