Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 11, 2024

Blossom Company had the following transactions during 2021 Sales of $10620 on account . Collected $4720 for services to be performed in 2022 Paid $4430

Blossom Company had the following transactions during 2021 Sales of $10620 on account . Collected $4720 for services to be performed in 2022 Paid $4430 cash in salaries for 2021 Purchased airline tickets for $590 in December for a trip to take place in 2022 What is Blossom's 2021 net income using accrual accounting? $6190 O $11500 O $6780 O $10910

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Describe the process of socializing a hate group member. What are the outcomes of the socialization process?

Answered: 1 week ago

Question

★★★★★

Q1. Prepare a trend analysis of Sales Revenue for all four years: The greatest increase took place in (2010 / 2009 / ___________). What are some likely reasons for this increase? Q2. The greatest...

Answered: 1 week ago

Question

★★★★★

Blossom Company had the following transactions during 2021 Sales of $10620 on account . Collected $4720 for services to be performed in 2022 Paid $4430 cash in salaries for 2021 Purchased airline...

Answered: 1 week ago

Question

★★★★★

Direct product costs are charged against income in the time period A) B) 44) That the product is manufactured. That the product is sold. That the product cost is paid. That the product is purchased

Answered: 1 week ago

Question

★★★★★

A hedger is short spot and long futures. Today, spot is 4.40 and the June future is 5.00. A bit later, spot goes to 5.00 and the June future goes to 5.10. What has happened to basis in this period?...

Answered: 1 week ago

Question

★★★★★

The EICAS CRTs (cathode ray tubes) are: Group of answer choices Identical Directly powered from the battery bus Cooled by AC-powered fans All the above Only b and c

Answered: 1 week ago

Question

★★★★★

A recruiter asks candidates for a customer service rep position, "Why are you interested in this role?" Which response ( s ) would hurt a candidate's chances of advancing to the next round? Select...

Answered: 1 week ago

Question

★★★★★

You are starting to draw up your plans for the program. You realize that employees are going to have a lot of questions about the change. You cannot get all of the questions handled in all - hands...

Answered: 1 week ago

Question

★★★★★

I need these charts filled in using the information given Instructions Analysis Ledger Trial Balance Greenwald and Mass developed a business and plan to begin by offering clinics for basic outdoor...

Answered: 1 week ago

Previous Question Next Question