Scenario 24-1 ​

question 61

Multiple Choice

Scenario 24-1
​
Sue Lewis was an accountant in 1943 and earned $12,000 that year. Her son is an accountant too and he earned $220,000 this year. Suppose the price index was 18.9 in 1943 and 20.5 in the current year.
-Refer to Scenario 24-1. Sue's son current year income in 1944 dollars is

• A)$352,000.
• B)$202,829.
• C)$238,624.
• D)$11,063.

---

Definitions:

Sales Invoice

A document issued by a seller to a buyer, detailing a transaction and requesting payment, itemizing the products or services provided and their prices.

Work in Process

Inventory items that are currently in the production process but are not yet completed products.

Time Tickets

Documents used to record the amount of time an employee spends on various tasks, typically for the purpose of allocating labor costs to specific jobs or projects.

Employees' Earnings Records

Documentation that details the wages or salaries earned by employees, including deductions and net pay, over a period.