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Author Question: If, in the effort to prove cash, a shortage is found, the amount is treated as a(n) a. cash ... (Read 34 times)

mspears3

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on: Jul 5, 2018
If, in the effort to prove cash, a shortage is found, the amount is treated as a(n)
 a. cash receipts transaction.
   b. petty cash transaction.
   c. revenue earned transaction.
   d. expense.

Question 2

South Seas reported the following items on its financial statements. Determine the amount of cost of goods sold.
 
  Net income  50,000
   Sales 250,000
   Operating expenses 120,000


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kxciann

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Reply #1 on: Jul 5, 2018
Answer to Question 1

d

Answer to Question 2

250,000 - 50,000 - 120,000 = 80,000


mspears3

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Reply #2 on: Jul 5, 2018
Correct answers!


kxciann

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Reply #3 on: Jul 5, 2018
Great! Please up vote :D


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