Question
Wing Company had the following transactions during 2016: Sales of 72,000 on account Collected 32,000 for services to be performed in 2017 Paid 10,000 cash
Wing Company had the following transactions during 2016:
Sales of 72,000 on account
Collected 32,000 for services to be performed in 2017
Paid 10,000 cash in salaries
Purchased airline tickets for 4,000 in December for a trip to take place in 2017
What is Wing's 2016 net income using accrual accounting?
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Managerial Accounting
Authors: Ray Garrison, Eric Noreen, Peter Brewer
17th Edition
1260247783, 978-1260247787
