Wang Company Had the Following Transactions During 2022: Sales

question 169

Multiple Choice

Wang Company had the following transactions during 2022: Sales of $10800 on account
Collected $4800 for services to be performed in 2023
Paid $2600 cash in salaries for 2017
Purchased airline tickets for $600 in December for a trip to take place in 2023
What is Wang's 2022 net income using accrual accounting?

• A)$8800
• B)$13600
• C)$13000
• D)$8200

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Definitions:

Human Brain Waves

Human brain waves are patterns of electrical activity in the brain that are indicative of various states of consciousness or cognitive processes.

Electrodes

Conductive mediums that transfer electrical charge to another medium.

Meninges

The three layers of protective tissue that cover the brain and spinal cord, comprising the dura mater, arachnoid mater, and pia mater.

Dura Mater

The tough outermost membrane enveloping the brain and spinal cord.