Question

2. During the year 2015-16. a firm carned Rs. 7.40,000 as consultation fee out of which Rs. 5,20,000 have been received in cash. It incurred expenses of Rs. 400,000 during the year out of which of Rs. 70,000 are still outstanding. It received fee in advance as Rs. 25,000 and paid rent in advance as Rs. 45,000. Calculate its income (1) accrual basis and (ii) cash basis​

Answer 1

Answer:

.......................I am sooo sorry I didn't know