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Cash sales totaled $350,000. Credit sales totaled $495,000. . Cash collections from customers for services yet to be provided totaled $95,000. A $20,000 loss from

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Cash sales totaled $350,000. Credit sales totaled $495,000. . Cash collections from customers for services yet to be provided totaled $95,000. A $20,000 loss from the sale of property and equipment occurred. Interest income was $9,300. Interest expense was $19,500. Supplies expense was $420,000. Rent expense for the store was $34.000. Wages expense was $55,000. Other operating expenses totaled $85,000. Unearned revenue was $4.900. What is the amount of Lant's income from operations (operating income)? Multiple Choice O $210,800 o oo $316,000 O $190,800 Cash sales totaled $300,000 Credit sales totaled $490,000. Cash collections from customers for services yet to be provided totaled $90,000. A $26,000 loss from the sale of property and equipment occurred. Interest income was $8,800. Interest expense was $19,000. Supplies expense was $400,000. Rent expense for the store was $40,000. Wages expense was $50,000. Other operating expenses totaled $80,000. . Unearned revenue was $3,500. What is the amount of Lant's income before income taxes? Multiple Choice $273,800 $390,000 A landlord collected $6,900 cash from a tenant for December 2019's rent but the contract rate set for the tenant's December rent is $9700. Which of the following is true with respect to the landlord's financial statements using generally accepted accounting principles? Multiple Choice 0 () $6.900 would appear on the balance sheet as prepaid rent 0 $9,700 would be reported on the statement of cash flows. 0 $9.700 would appear on the income statement as rent revenue earned 0 $9.700 would appear on the balance sheet as rent receivable During 2019, Zensa Corporation incurred operating expenses amounting to $160,000, of which $85,000 was paid in cash; the balance will be paid during 2020. Which of the following is correct for the 2019 year-end balance sheet? Multiple Choice O Stockholders equity decreases $85,000 and assets decrease $85.000 O Assets decrease $160,000 and stockholders' equity decreases $160,000 O Stockholders' equity decreases $160,000, assets decrease $85.000, and abilities increase $75.000 O Assets decrease $160,000, liabilities increase $75,000, and stockholders equity decreases $160.000 On December 31, 2019. Aver Corporation paid $25.000 for next year's insurance policy. This transaction should be recorded as follows by Aver Credit General Journal Insurance expense Insurance payable Debit 25,000 A 25,000 B 25.000 Prepaid insurance Insurance payable 25,000 C 25,000 Prepaid insurance Cash 25,000 25,000 D. Insurance expense Cash W WW .25,000 Multiple Choice 0 O Option D 0 0 O Option 0 O Option Lant Company has provided the following information: Cash sales totaled $350,000. Credit sales totaled $495,000. Cash collections from customers for services yet to be provided totaled $95,000. A $20,000 loss from the sale of property and equipment occurred. . Interest income was $9,300. Interest expense was $19,500. Supplies expense was $420,000. Rent expense for the store was $34.000. Wages expense was $55,000. Other operating expenses totaled $85,000. . Unearned revenue was $4.900. What is the amount of Lant's income from operations (operating income)? Multiple Choice O $210,800 $316,000 OO $231,000 O $190,800 Prev

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