Assume Net Sales are 225,000, Cost of Goods Sold is 75,000, ...

[codyclark]

Assume Net Sales are 225,000, Cost of Goods Sold is 75,000, Selling Expenses are 24,000 and General Expenses are 30,000 . Calculate Net Income:
 a. 150,000
  b. 126,000
  c. 246,000
  d. 96,000

Question 2

Governmental activities in the government-wide financial statements would potentially report the following equity classifications except
 
  A. Restricted net position.
  B. Restricted fund balance.
  C. Unrestricted net position.
  D. Net investment in capital assets.

[daiying98]

Answer to Question 1

D

Answer to Question 2

B