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Business, 15.10.2020 20:01 knela

The following is selected information from Bonita Corporation for the fiscal year ending October 31, 2018 Cash received from customers $301000
Revenue recognized 376000
Cash paid for expenses 184000
Cash paid for computers on November 1, 2017 that will be used for 3 years (annual depreciation is $16100) 48300
Expenses incurred, including interest, but excluding any depreciation 218000
Proceeds from a bank loan, part of which was used to pay for the computers 95000
Based on the accrual basis of accounting, what is Monty Corporation’s net income for the year ending October 31, 2018?

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The following is selected information from Bonita Corporation for the fiscal year ending October 31,...
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