Accountants i need your help. 10 points for best answer?

Answers:1   |   LastUpdateAt:2012-10-02 13:42:03  

Asked at 2012-09-17 16:52:04
selma store operates a supply contractor . it maintains its books using the cash method . at the end of the year , your accountant calculates its accrual basis income used in your tax return . by 2010 , Selma had charges of $ 1.5 million , which included $ 200,000 collected on accounts receivable from 2009 for sale. also includes the proceeds of a bank loan of 100,000. in late 2010 , had $ 400,000 in accounts receivable , all sales of 2010. MedlinePlus Gross revenue accrual basis A. selma calculation for 2010?
b.Selma paid cash for all purchases , the total amount paid for goods in 2010 was 1.2 million. in late 2009 , has merchandise on hand at a cost of $ 100,000 . in late 2010 , the cost of goods on hand was $ 300,000. calculate the gross sales of merchandise Selma in 2010 .
Answer1DajaAnswered at 2012-10-02 13:42:03
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