Molly's Auto Detailers maintains its records on the cash basis. During 2021, Molly's collected $72,800 from customers and paid $19,100 in expenses. Depreciation expense of $4,300 would have been recorded on the accrual basis. Over the course of the year, accounts receivable increased $4,700, prepaid expenses decreased $1,500, and accrued liabilities decreased $2,300. Molly's accrual-basis net income was: Multiple Choice $50,300. $43,900. $54,900. $96,200. Next Visit question mapQuestion 9 of 15 Total9 of 15 Prev

$50,300

Explanation:

The computation of net income based on accrual basis is given below:-

Net Income = Collection + Increase accounts receivable - Paid expenses - Depreciation expenses - Decrease in prepaid expenses - Decreased in accrual Liabilities

= $72,800 + $4,700 - $19,100 - $4,300 - $1,500 - $2,300

= $77,500 - $27,200

= $50,300

reducing the scale of the market for a new product.

it established new limitations on use and disclosure for marketing purposes, prohibited selling medical information, expanded individuals’ rights to accessing their own information, and to obtain restrictions from certain disclosures of protected heath information to health plans.