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What is a pure cash basis income statement would report

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Reference no: EM132625198

The accrual income statement of Carnation, Inc. included the following expenses for 2017: Depreciation Expense - P65,000; Salaries and Wages - P189,000; Interest Expense - P36,000.

The comparative balance sheets reported the following related accounts:

                                                  12/31/17                 12/31/16

Accumulated Depreciation P96,000                          P154,000

Accrued Salaries and Wages 8,000                       12,000

Accrued Interest Payable 10,500                              7,000

Problem 1: Considering only the data above, what is a pure cash basis income statement would report expenses for 2017?

 

Reference no: EM132625198

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