La More Company Had the Following Transactions During 2013

question 104

Multiple Choice

La More Company had the following transactions during 2013:
-Sales of $4,500 on account
-Collected $2,000 for services to be performed in 2014
-Paid $1,875 cash in salaries for 2013
-Purchased airline tickets for $250 in December for a trip to take place in 2014
What is La More's 2013 net income using accrual accounting?

• A) $2,875
• B) $4,875
• C) $4,625
• D) $2,625

---

Definitions:

Nephrology

A branch of medicine concerned with the study, diagnosis, and treatment of kidney diseases.

Cardiomyopathy

A disease of the heart muscle that makes it harder for the heart to pump blood to the rest of the body, potentially leading to heart failure.

Musculoskeletal

Pertaining to the system that encompasses muscles, bones, joints, tendons, and ligaments, facilitating movement and structural support.

Neurological

Related to the nervous system, encompassing the brain, spinal cord, and nerves, and the disorders that affect them.