On the balance sheet columns of the worksheet, the debit column totals $18,300 and the credit column totals $11,000. What is the amount of net income or net loss? O A. $7,300 net income O B. $7,300 net loss O C. $29,300 net loss OD. $29,300 net income ABC Company had the following transactions during the month. What would be the total amount of expenses for the month if ABC Company uses the accrual basis method? a. On the first of the month, paid $4,800 for insurance for the next 12 months b. Received $7,200 for services to be performed equally over the next 12 months. c. Paid $800 for the current month's rent. d. Paid $300 cash for office supplies e. Paid $800 in Salaries Expense. f. Received $1,600 in cash for service revenue earned this month. O A. $6.400 O B. $6,700 O C. $2,300 OD. $2,000 Your Business Advisor, a consulting company, does not use reversing entries. On March 31, 2024, the bookkeeper journalized and posted an adjusting entry for $350 to Salaries Payable. On April 15th, the company paid the salaries payable and an additional $350 in salaries expense. What would be the journal entry on April 15th? 700 O A. Cash Salaries Payable Salaries Expense 350 350 700 OB. Salaries Expense Cash 700 O C. Salaries Payable Salaries Expense Cash 350 350 700 700 OD. Salaries Payable Cash 700 service revenue for the month if ABC Company uses the cash basis method? ABC Company had the following transactions during the month. What would be the total amount a. Paid $1.200 for insurance for the next 12 months. b. Received $7,200 for services to be performed equally over the next 12 months. c. Paid $1,500 for the current month's rent. d. Paid $150 cash for office supplies. e. Paid $800 in Salaries Expense. f. Received $1,700 in cash for service revenue earned this month. O A. $8,900 O B. $2,300 O C. $2,400 OD. $2,450 ABC Company had the following transactions during the month. What would be the total amount of service revenues for the month if ABC Company uses the cash basis method? a. Paid $2,400 for insurance for the next 12 months. b. Received $1,200 for services to be performed equally over the next 6 months. c. Paid $500 for the current month's rent. d. Paid $150 cash for office supplies. e. Paid $900 in Salaries Expense. f. Received $1,500 in cash for service revenue earned this month. O A. $1,700 OB. $850 OC. $2,700 OD. $1,050 ABC Company had the following transactions during the month. What would be the total amount of expenses for the month if ABC Company uses the accrual basis method? a. On the first of the month, paid $2,400 for insurance for the next 12 months b. Received $1,200 for services to be performed equally over the next 6 months. c. Paid 5700 for the current month's rent. d. Paid $300 cash for office supplies e. Paid $600 in Salaries Expense. f. Received $1,100 in cash for service revenue earned this month. O A. $1,700 O B. $3,700 OC. $1,500 OD. $4,200 Total Spa Services earned $110,000 of service revenue during 2018. Of the $110,000 earned, the business received $80,000 in cash. The remaining amount, $30,000, was still owed by customers as of December 31. In addition, Total Spa Services incurred $75,000 of expenses during the year. As of December 31, $6,000 of the expenses still needed to be paid. In addition, Total Spa Services prepaid $7,000 cash in December 2018 for expenses incurred during the next year. 1. Determine the amount of service revenue and expenses for 2018 using a cash basis accounting system. 2. Determine the amount of service revenue and expenses for 2018 using an accrual basis accounting system. 1. Determine the amount of service revenue and expenses for 2018 using a cash basis accounting system. Cash basis Service revenue Expenses 80000 62000 2. Determine the amount of service revenue and expenses for 2018 using an accrual basis accounting system. Accrual basis Service revenue Expenses 110000 75000 ABC Company does not use reversing entries. On December 31, 2024, the bookkeeper journalized and posted an adjusting entry for $1,100 to Salaries Payable. On January 15th, the company paid the salaries payable and an additional S900 in salaries expense. What would be the journal entry on January 15th 2,000 O A. Cash Salaries Payable Salaries Expense 1,100 900 2,000 OB. Salaries Expense Cash 2.000 O C. Salaries Payable Salaries Expense Cash 1,100 900 2.000 OD. Salaries Payable Cash 2,000 2.000 Your Business Advisor, a consulting company, does not use reversing entries. On March 31, 2024, the bookkeeper journalized and posted an adjusting entry for $500 to Salaries Payable. On April 15th, the company paid the salaries payable and an additional $500 in salaries expense. What would be the journal entry on April 15th? O A. Salaries Payable Cash 1,000 1,000 1,000 OB. Cash Salaries Payable Salaries Expense 500 500 O C. Salaries Expense Cash 1,000 1,000 OD. Salaries Payable Salaries Expense Cash 500 500 1,000