Question

In the financial year 2017-18 , Aman earned a total revenue of ‘

‘6,90,000.out of which '4,70,000 was received in cash . The total expenses

paid by him were '4,40,000., out of which '20,000 pertains to 2018-19. The

expenses of '30,000 are still outstanding. Determine Aman's income for

2017-18 as per Accrual basis of Accounting​

Answer 1

Answer:

Answer:

The cash basis is a method of recording accounting transactions for revenue and expenses only when the corresponding cash is received or payments are made

Mohan's income =90000

Mohan's expenses =40000(70000-30000)

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