Question

in a financial year Vinod has total sales of 740000 out of which 560000 were received in cash and total expenses paid were 380000 out of which 30000 belongs to next year and 10000 are still outstanding determine his income for the year as per the cash and accrual basis of accounting

Answer 1

I think on cash basis his income is Rs.200000 and on accrual basis Rs.380000

Answer 2

anshd8dnddjxjdbkajabhabahab