Flag question Question 2 Not yet answered Marked out of 1.00 Listed below are several transactions that took place during the second and third period of operations for the ABC Corporation: Period 2 Period 3 175,000 225,000 Amounts billed to customers for services rendered Cash collected from credit customers 130,000 200,000 Cash disbursements: Payment of rent 40,000 Salaries paid to employees for services 70,000 80,000 rendered during the period General expenses incurred during the 15,000 20,000 period) Advertising 7,500 17,500 Additional information: ABC incurred advertising costs of 12.500 in period 2. owed the advertising agency 2.500 at the end of period 1, and there we liabilities at the end of period 3. There were no anticipated bad debts on receivables. The rent payment was for a two-year period periods 2 and 3 (linearly allocated) The net income for period 2 is: Advertising 7,500 17,500 Additional information: - ABC incurred advertising costs of 12.500 in period 2, owed the advertising agency 2.500 at the end of period 1, and there were no liabilities at the end of period 3. There were no anticipated bad debts on receivables. The rent payment was for a two-year period, periods 2 and 3 (linearly allocated) The net income for period 2 is: Select one: a. 32,500 b. 62,500 c37,500 o d. 57,500 e. 65,500 Question 3 p Flag questidas Not yet answered Marked out of 1.00 The net income for period 3 is: Select one: a. 95,000 b. 133,000 O c. 102,500 d. 115,000 O o e 122,500 Question 4 inte nero Marber nur 1 FIAO Hestinn Select one a. 95,000 O b. 133,000 102,500 d 115,000 e 122,500 Question 4 Not yet answered Marked out of 1.00 Flag question The amount due to advertising agency that would be shown as a liability on the statement of financial position of ABC at the end of period 2 is: Select one: a. 2,500 b. 12,500 o 17,500 d. 7,500 e. 15,000 Previous page Next Jump to... > Assignm 20 ! W