Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 14 (5 points) Lantz Company has provided the following information: - Cash sales totaled $255,000. Credit sales totaled $479,000. - Cash collections from customers

image text in transcribedimage text in transcribed
image text in transcribed
image text in transcribed
Question 14 (5 points) Lantz Company has provided the following information: - Cash sales totaled $255,000. Credit sales totaled $479,000. - Cash collections from customers for services yet to be provided totaled $88,000. A $22,000 loss from the sale of property and equipment occurred. - Interest revenue was $7,700. Interest expense was $19,900. $000.000 15 lies expense was $336,000. - Rent expense for the store was $36,000. Wages expense was $49,000. . Other operating expenses totaled $79,000. Unearned revenue was $4,000. ? What is the amount of Lantz's operating revenues? $826,000 $833,700 $822,000 $834,000 $734,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Introductory Financial Accounting For Business

Authors: Thomas Edmonds, Christopher Edmonds, Mark Edmonds, Jennifer Edmonds, Philip Olds

2nd Edition

1260575306, 978-1260575309

More Books

Students also viewed these Accounting questions

Question

13. Give four examples of psychological Maginot lines.

Answered: 1 week ago