Question
A company had the following partial list of account balances at year-end: Sales Returns and Allowances $ 1,300 Accounts Receivable 39,500 Sales Discounts 2,400 Sales
A company had the following partial list of account balances at year-end:
| Sales Returns and Allowances | $ | 1,300 | |
| Accounts Receivable | 39,500 | ||
| Sales Discounts | 2,400 | ||
| Sales Revenue | 96,500 | ||
| Allowance for Doubtful Accounts | 1,500 | ||
How much is net sales revenue?
Multiple Choice
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$92,800.
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$90,400.
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$91,300.
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$88,900.
A company reported the following asset and liability balances at the end of 2018 and 2019:
| 2018 | 2019 | |
| Assets | $152,100 | $181,400 |
| Liabilities | $71,750 | $80,700 |
If the company paid dividends totaling $5,700, what is the amount of net income for 2019?
Multiple Choice
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$20,350.
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$80,350.
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$106,400.
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$26,050.
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
