Module 1 Discussion Forum

Module 1 Discussion Forum - 1,500 Deduct: Decrease in...

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Module 1 Discussion Forum Chapter 2 E2-18 Fees $545,000 Less: Expenses 412,000 Depreciation expense 22,000 Cash basis net income $111,000 Deduct: Decrease in accounts receivable (7,000) Add: Increase in prepaid insurance
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Unformatted text preview: 1,500 Deduct: Decrease in prepaid rent (1,000) Deduct: Increase in unearned revenues (1,800) Deduct: Increase in accrued liabilities (3,400) Accrual basis net income for 2011 $ 99,300...
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This note was uploaded on 07/13/2011 for the course ACCT 201 taught by Professor Weinberger during the Spring '11 term at Edison State College.

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