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

question 185

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
Purchased airline tickets for $600 in December for a trip to take place in 2023
What is Wang's 2022 net income using cash basis accounting?

• A)$1600
• B)$2800
• C)$13000
• D)$2200

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Definitions:

Machiavellianism

A set of cynical beliefs about human nature, morality, and the permissibility of using various tactics to achieve one’s ends.

Rationality

The quality of being based on or in accordance with reason or logic.

Influence Tactics

Strategies or actions used to persuade or direct the behavior of others in order to achieve one's own objectives.

Job Search

The action of looking for employment opportunities.