Kim Andrews prepared the following income statement on a cash basis for Ed Sloan, M.D: Ed Sloan
Question:
Kim Andrews prepared the following income statement on a cash basis for Ed Sloan, M.D:
Ed Sloan has requested information from Kim as to what his professional fees earned would be under the accrual-basis system of accounting. Kim has asked you to provide Dr. Sloan with this information, basing it on the following facts that Kim ignored in the original preparation of the financial report:
Transcribed Image Text:
ED SLOAN, M.D. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2021 Professional Fees Earned Expenses Net Income 50 000 00 1800000 3200000
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Related Book For
College Accounting A Practical Approach
ISBN: 9780135222416
14th Canadian Edition
Authors: Jeffrey Slater, Debra Good
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