La More Company Had the Following Transactions During 2022

question 56

Multiple Choice

La More Company had the following transactions during 2022. Sales of $9000 on account
Collected $4000 for services to be performed in 2023
Paid $2650 cash in salaries
Purchased airline tickets for $500 in December for a trip to take place in 2023
What is La More's 2022 net income using cash basis accounting?

• A)$10350
• B)$1350
• C)$9850
• D)$850

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Definitions:

Synapse

The junction between two neurons or between a neuron and a muscle cell, where electrical or chemical signals are transmitted from one cell to another.

Neurotransmitters

Chemical substances that transmit signals across a synapse from one neuron to another neuron, muscle cell, or gland cell.

Axon Terminal

The endpoint of a neuron where neurotransmitters are stored before being released into the synaptic cleft to communicate with other neurons.

Reuptake

The process by which neurotransmitters are taken from the synaptic cleft back into the axon terminal for later use, thus terminating their excitatory or inhibitory effect on the receiving neuron.