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Wing Company had the following transactions during 2016: Sales of $110,000 on account Collected $55,000 for services to be performed in 2017 Paid $20,000 cash
Wing Company had the following transactions during 2016: Sales of $110,000 on account Collected $55,000 for services to be performed in 2017 Paid $20,000 cash in salaries Purchased airline tickets for $14,000 cash in December 2016 for a trip to take place in 2017 What is wing's 2016 net income using accrual accounting? A $94,000 B $62,000 (c) $90,000 D) $58,000
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