ACCT 212 Week 2 Quiz

ACCT 212 Week 2 Quiz (Summer 2020) QUESTIONS WITH CORRECT ANSWERS BEST STUDY GUIDE FOR EXAMS/ACCT 212 Financial Accounting Last document update:   ago

A company completed the following transactions during the month of October: Question: A company had credit sales of $ 34,000 and cash sales of $ 20,000 during the month of May. Also during May, the company paid wages of $ 25,000 and utilities of $ 10,000. It also received payments from customers on account totaling $ 5,200. What was the company’s net income for the month? Question: A company received $ 34,000 cash and issued common stock in exchange. How does this transaction affect the accoun...