« previous next »

Author Question: The net income reported on the income statement is 58,000 . However, adjusting entries have not been ... (Read 155 times)

jenna1

  • Hero Member
  • *****
  • Posts: 568
on: Jul 5, 2018
The net income reported on the income statement is 58,000 . However, adjusting entries have not been made at the end of the period for supplies expense of 2,200 and accrued salaries of 1,300 . Net income, as corrected, is
 a. 56,700
  b. 58,000
  c. 55,800
  d. 54,500

Question 2

At what point are revenues recognized in the General Fund?
 
  a. when the revenues are earned
  b. when cash is received
  c. when the revenues are measurable and available
  d. when billings are mailed to service recipients


owenfalvey

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jul 5, 2018
Answer to Question 1

d

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Medication errors are three times higher among children and infants than with adults.

The correct statement about hormones-insulin and glucagon The correct statement about hormones-insulin and glucagon
Women who are 65 and older have a lower median income from all sources than men in the same age ... Women who are 65 and older have a lower median income from all sources than men in the same age ...
Distribution of the Income of Americans Distribution of the Income of Americans
Examples of SOAP Note entries. Examples of SOAP Note entries.
The rates of police reported sexual offences The rates of police reported sexual offences
Philip wants to supplement his pension by $415 per month with income from his investments. His ... Philip wants to supplement his pension by $415 per month with income from his investments. His ...
Video: Stretch reflex & Tendon reflex

For a complete list of videos, visit our video library