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Financial Accounting > EXAM > ACCT212 WEEK 2 QUIZ (All)

ACCT212 WEEK 2 QUIZ

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A company completed the following transactions during the month of October: I. Purchased office supplies on account, $ 5,800. II. Provided services for cash, $ 24,000. III. Provided services on acc ... ount, $ 33,000. IV. Collected cash from a customer on account, $ 27,000. V. Paid the monthly rent of $ 4,600. What was the company's total revenue for the month? A. $ 24,000 B. $ 84,000 C. $ 57,000 D. $ 33, 000 A company completed the following transactions during the month of October: I. Purchased office supplies on account, $ 5,400. II. Provided services for cash, $ 21,000. III. Provided services on account, $ 15,000. IV. Collected cash from a customer on account, $ 8,600. V. Paid the monthly rent of $ 15,000. What was the company's net income for the month? A. $ 36,000 B. $ 51,000 C. $ 15,000 D. $ 21,000 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? A. $ 19,000 B. $ 20,000 C. $ 89, 000 D. $ 54, 000 [Show More]

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