Question

During the financial year 2011 to 2012 Salman had cash sale of 100000 and credit sale of 80000 his expenses for the year where 120000 out of which 40000 is still to be paid find out Salman income for 2011-2012 following the cash basic of accounting and accrual basic of accounting

Answer 1

Answer:

As per cash basis-20000

As per accrual basis-60000

Answer 2

Answer:

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