Crue Company Had the Following Transactions During 2022:

question 73

Multiple Choice

Crue Company had the following transactions during 2022:
Sales of $4,500 on account to 1.
Collected $2,500 for services to 1.
Paid $1,625 cash in salaries

Purchased airline tickets for $250 in December for a trip to take place in 2023
What is Crue's net income using cash-basis accounting?

• A)$625
• B)$875
• C)$5,125
• D)$5,375

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Definitions:

Hippocampus

An area in the brain that plays a crucial role in creating new memories, as well as being linked to both learning and emotional processes.

Auditory Cortex

The part of the temporal lobe that processes auditory information in humans and other vertebrates, playing a key role in the ability to perceive and recognize sounds.

Adrenal Glands

Small, triangular glands located on top of both kidneys that produce hormones such as adrenaline and cortisol, which help regulate metabolism, immune system, and stress responses.

Pituitary Gland

A small endocrine gland located at the base of the brain that produces hormones influencing various bodily functions.