please solve with very detailed steps. correct answer is provided

solve for 4

4. Continue with the previous NCH fact pattern and calculate NCH's accrual basis net income at the end of year 2 ? A. $180,000 B. $195,000 C. $200,000 D. $175,000 E. None of the above NCH Company had the following transactions that took place during the first two years of operations: Custoeners owed the company 560,000 and 585,000 at the end of year 1 and 2 reipectively. - The reat payment was for a fwo-year period *" At the end of year 1, NCH owed 55.000 of salaries to its enployees. ** NCH estimates that the office equipasen has a 5-year usefil life. There were no liabilities at the end of year 2. Hiat: prepare journal entries \& T accounts? Using the above information, please calculate NCH's acerual basis net income at the end of year 17 ? A. $235,000 B 5275,000 22 cusivuers owea the company $60,000 and $85,000 at the end of year I and 2 respectively. "The rent payment was for a two-year period * At the end of year 1 . NCH owed 55,000 of salaries to its employees. "*" NCH estimates that the office equipment has a S-year useful life. There were bo liabilities at the end of year 2 . Hint: prepare journal entries \& T accounts! Using the above information, please calculate NCH's acenual basis net income at the end of year 12 ? A. $235,000 B. $275,000 C. $110,000 D. $130,000 E. None of the above 4. Continue with the previous NCH fact pattern and calculate NCH's accrual basis net income at the eud of year 2? A. $180,000 B. 5195,000 C. $200,000 D. $175,000 E. None of the above Answer Key: 1. C 2a. C 2b, C 3. D 4. A 5. A 6. E 7. D 8. C 9. E 10. C 11. A 12. E Green Sheet #11 Solution U.S. IFRS