Question: Prepare the Income Statement using the effective method for the years 2016, 2017, 2018 and 2019. 8. What was the accrual / accrual income and

 Prepare the Income Statement using the effective method for the years Prepare the Income Statement using the effective method for the years 2016, 2017, 2018 and 2019.

8. What was the accrual / accrual income and cost for 2017 if:

a) Of the total sales amount, $ 3,500 were sold in 2017 but were produced in 2016 and $ 1,350 were sold in 2018 but were produced in 2017.

b) In 2017, $ 1,250 of colino / corm is used that was purchased in 2016 and also $ 2,500 is used in 2017 but that will be paid in 2018.

a. $29,875; $32,708

b. $32,025; $28,958

c. -$29,875; $32,708

d. $36,875; $27,708

e. none

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