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Splish Brothers Industries collected $106,000 from customers in 2019. Of the amount collected, $25,700 was for services performed in 2018. In addition, Splish Brothers performed services worth $39,100 in 2019, which will not be collected until 2020. Splish Brothers Industries also paid $70,700 for expenses in 2019. Of the amount paid, $30,900 was for expenses incurred on account in 2018. In addition, Splish Brothers incurred $40,700 of expenses in 2019, which will not be paid until 2020. (a) Compute 2019 cash-basis net income. Cash-basis net income $ (b) Compute 2019 accrual-basis net income. Accrual-basis net income $
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Splish Brothers Industries collected $106,000 from customers in 2019. Of the amount collected, $25,7...
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