Determine the company net income

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Question - A company using the cash basis of accounting reports net income for 2014 of $45,460. If the company had used the accrual basis of accounting it would have reported the following year-end balances:

2014 2013

Accounts receivable $3,850 $5,100

Supplies 1,740 1,950

Salaries and wages payable 3,600 2,250

Other unpaid amounts 2,400 2,100

Instructions: Determine the company's net income under the accrual basis of accounting. Show your calculations.

Reference no: EM132052393

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