Question

2
3. Atul, a consultant, during the financial year 2019-20 earned 4,00,000. Out of which he
received + 3,50,000. He incurred an expense of * 1,70,000, out of which * 40,000 are
outstanding. He also received consultancy fee relating to previous year 45,000 and also
paid 20,000 expenses of last year. You are required to determine his income for the year,
if
(a) He follows Cash Basis of Accounting and
(b) He follows Accrual Basis of Accounting,
Ans.(a) 2.45.000. (b) 2.30,000.
(YAITTH ANSWERS​

Answer 1

Answer:

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Step-by-step explanation:

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Answer 2

Answer:

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