Wang Company Had the Following Transactions During 2013

question 189

Multiple Choice

Wang Company had the following transactions during 2013:
-Sales of $10,800 on account
-Collected $4,800 for services to be performed in 2014
-Paid $3,100 cash in salaries for 2013
-Purchased airline tickets for $600 in December for a trip to take place in 2014
What is Wang's 2013 net income using accrual accounting?

• A) $8,300
• B) $13,100
• C) $12,500
• D) $7,700

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Definitions:

Partner Gene

A term not commonly recognized in standard genetics; possibly refers to a gene that interacts with another to produce or influence traits. NO.

Alleles

Variants of a gene that occur at the same locus on homologous chromosomes, contributing to the diversity of an organism's traits.

Genotype

The genetic constitution of an individual organism.

Phenotype

The collection of visible attributes or qualities of a living being that emerge from the interplay between its genetic makeup and environmental factors.