Question

MC Qu. 67 Molly's Auto Detailers maintains its records on the cash besi... Molly's Auto Detalers maintaes its records on the cash besis Duning 20B, Moly's collected 572100 som customers and accrual basis Over the course of the year accounts recetvable Increased $4 300 prepad expenses decreased S paid $t9,900 in expenses Deprecation expense of $4300 would have been necorded on the $1800 and acerued es decreased 52,600 Maty's accnual thess net income was 53 700

Answer 1

Net Income on Accrual basis:
Revenues from operations (72100+4100)				76200
Less: Expenses
Depreciation expenses				4100
Expenses (19900+1100-2600)				18400
Net Income on Accrual basis				53700
Answer is $ 53700.