Barrymore Company maintains its books and records on the cash basis but is required to restate...

 

Transcribed Image Text:

Barrymore Company maintains its books and records on the cash basis but is required to restate its financial statements on the accrual basis. Barrymore had cash basis expenses in 2019 of $200,000. The following balances in certain accruals and deferrals was provided: Supplies Taxes payable B.$170,000 C-$290,000 D. $230,000 December 31, 2019 $150,000 70,000 December 31, 2018 $90,000 100,000 In its income statement for 2019, how much will Barrymore report as operating expenses on the accrual basis? A $110,000 Barrymore Company maintains its books and records on the cash basis but is required to restate its financial statements on the accrual basis. Barrymore had cash basis expenses in 2019 of $200,000. The following balances in certain accruals and deferrals was provided: Supplies Taxes payable B.$170,000 C-$290,000 D. $230,000 December 31, 2019 $150,000 70,000 December 31, 2018 $90,000 100,000 In its income statement for 2019, how much will Barrymore report as operating expenses on the accrual basis? A $110,000

Answer rating: 100% (QA)

operating expense for 2019 Supp... View the full answer