Answer:
$143,000
Step-by-step explanation:
Newman consulting company maintains its record on its cash basis
The first step is to calculate the revenue
$420,000+($60,000-$52,000)
= $420,000+$8,000
= $428,000
The expenses can be can be calculated as follows
Utilities expenses = $35,000-($6,000-$4,000)
= $35,000-$2,000
= $33,000
Advertising expenses= $12,000
Salaries expenses= $240,000
Total expenses= $240,000+$12,000+$33,000
= $285,000
Therefore the accural net income for the year can be calculated as follows
= revenue - expenses
= $428,000-$285,000
= $143,000
Hence the accrual net income for the year is $143,000
