Business, 24.02.2021 01:00 jaymieordonez8751

5. The following summarized data were taken from the records of Amber Company at December 31, 1992, end of the accounting year,
Sales: 1992 cash sales were Br. 150,000, and 1992 credit sales were Br.
120.000
Cash collections during 1992: Br. 40,000 on 1991 credit sales, Br. 80,000
Expenses: 1992 cash expenses were Br 180,000, and 1992 credit expenses
were Br. 70,000
Cash payments during 1992: Br. 20,000 for 1991 credit expenses, Br. 40,000
for 1992 credit expenses, and Br. 9000 for 1993 expenses (paid in advance)
Required: Complete the following statements for 1992 as a basis for
evaluating the difference between cash and accrual accounting
Under Cash basis under Accrual basis
Sales revenue
Br.
Expenses
Br
Br.
Net income Br
Br.
Br

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5. The following summarized data were taken from the records of Amber Company at December 31, 1992,...

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