Question

(Vijay
.
,
a consultant, during the financial year 2018-19 earned * 4,00,000. Out of A
he received 3,50,000. He incurred an expense of 1,70,000, out of which 40,000, li
outstanding. He also received consultancy fee relating to previous year 45,000 and
Accounting.
paid 20,000 expenses of last year.
You are required to determine his income for the year if
(i) he follows Cash Basis of Accounting and
(ii) he follows Accrual Basis of Accounting.
C
d​

Answer 1

Answer:

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Explanation:

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