Author Question: A budgetary comparison schedule is required to include all of the following columns except A. The ... (Read 136 times)

vicky · **on:** Jul 6, 2018

A budgetary comparison schedule is required to include all of the following columns except

A. The original budget.
B. Actual on the GAAP basis.
C. Final revised budget.
D. Actual on the budgetary basis.

Question 2

Abbie Marson is the sole owner and operator of Great Plains Company. As of the end of its accounting period,December 31, Year 1, Great Plains Company has assets of 940,000 and liabilities of 300,000 . During Year 2,Marson invested an additional 73,000 and withdrew 33,000 from the business. What is the amount of net incomeduring Year 2, assuming that as of December 31, Year 2, assets were 995,000, and liabilities were 270,000?
a. 45,000
b. 50,000
c. 106,000
d. 370,000