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Determine the company net earnings on an accrual basis

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Reference no: EM132908671

Your examination of the records of a company that follows the cash basis of accounting tells you that the company's reported cash-basis earnings in 2022 are $33,640. If this firm had followed accrual-basis accounting practices, it would have reported the following year-end balances.

                                       2022                2021

Accounts receivable             $3,400            $2,800

Supplies on hand                  1,300              1,460

Unpaid wages owed               2,000              2,400

Other unpaid expenses           1,400              1,100

Problem 1: Determine the company's net earnings on an accrual basis for 2022.

Reference no: EM132908671

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