during the financial year 2016-17 mohan had cash sale of 90000 and cre

1.	during the financial year 2016-17 mohan had cash sale of 90000 and credit sales of 60000 his expenses for the year were 70000 out of which 30000 is still to be paid find out net income 2016-17 according to accrual basis of accounting
Answer» Answer: 80000 Explanation: ACCORDING to ACCRUAL basis of accounting we have ADD all the income either it is cash basis or credit basis and LESS total expense which is actually occurred

during the financial year 2016-17 mohan had cash sale of 90000 and credit sales of 60000 his expenses for the year were 70000 out of which 30000 is still to be paid find out net income 2016-17 according to accrual basis of accounting

Answer»

Answer:

80000

Explanation:

ACCORDING to ACCRUAL basis of accounting we have ADD all the income either it is cash basis or credit basis and LESS total expense which is actually occurred

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during the financial year 2016-17 mohan had cash sale of 90000 and credit sales of 60000 his expenses for the year were 70000 out of which 30000 is still to be paid find out net income 2016-17 according to accrual basis of accounting ​

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during the financial year 2016-17 mohan had cash sale of 90000 and credit sales of 60000 his expenses for the year were 70000 out of which 30000 is still to be paid find out net income 2016-17 according to accrual basis of accounting