Question
Ortiz Co. had the following account balances: Sales: $180,000; Cost of goods sold: $90,000; Depreciation expense: $30,000; Sales discount: $4,000; Interest revenue: $6,000; Utilities expense:
Ortiz Co. had the following account balances: Sales: $180,000; Cost of goods sold: $90,000; Depreciation expense: $30,000; Sales discount: $4,000; Interest revenue: $6,000; Utilities expense: $12,000; Rental revenue: $30,000; Interest expense: $18,000. What would Ortiz report as total net revenues in a single-step income statement?
| $186,000 |
|
| $15,000 |
|
| $206,000 |
|
| $180,000 |
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Modern Analytical Auditing Practical Guidance For Auditors And Accountants
Authors: Thomas Mckee
1st Edition
0899303544, 978-0899303543
