Generally, the revenue account for a merchandising business is ...

[lbcchick]

Generally, the revenue account for a merchandising business is entitled
 a. Sales
  b. Fees Earned
  c. Gross Sales
  d. Gross Profit

Question 2

Team Shirts, Inc. had the following balances on its balance sheet:
 
  Assets Liabilities
  December 31, 2011 300,000 250,000
  December 31, 2012 400,000 320,000
 
  During 2012, Team Shirts had revenues of 500,000 and expenses of 420,000. No new stock was issued. The amount of dividends for 2012 was ________.
  A) 130,000
  B) 50,000
  C) 10,000
  D) 80,000

[vkodali]

Answer to Question 1

a

Answer to Question 2

B

[lbcchick]

Correct answers!

[vkodali]

Great! Please up vote