cash to accrual basis

harpreet (audit assistant) (28 Points)

01 June 2011  

in yr 2 cash basis is conveted to accrual basis. what will be the income bal in yr-2 under accrual basis.

give answer with explanation

yr 1

(cash balance) as per cash basis of accounting==Rs.60000

debtor bal.=Rs 20000

Creditor bal=Rs. 30000

Yr=2

debtor bal.=Rs 40000

Creditor bal=Rs.15000