The Following Account Balances Are Taken from the December 31,2018,financial

question 6

Multiple Choice

The following account balances are taken from the December 31,2018,financial statements of ABZ Advertising Company.The company uses accrual basis accounting. $\begin{array}{lr}\text { Advertising Revenue } & 46,482 \\\text { Cash } & 41,516 \\\text { Accounts Receivable } & 7,296 \\\text { Interest Expense } & 2,299 \\\text { Accounts Payable } & 5,000 \\\text { Operating Expenses } & 37,460 \\\text { Deferred Revenue } & 1,178 \\\text { Equipment } & 18,048 \\\text { Income Tax Expense } & 2,326\end{array}$ The following activities occurred in 2019:
1.Performed advertising services on account,$55,000.
2.Received cash payments on account,$10,400.
3.Received deposits from customers for advertising services to be performed in 2020,$2,500.
4.Made payments to suppliers on account,$5,000.
5.Incurred $45,000 of operating expenses;$39,000 was paid in cash and $6,000 was on account and unpaid as of the end of the year.
What is the amount of revenue that will be reported on the income statement for the year ended December 31,2019?

• A)$57,500.
• B)$39,000.
• C)$55,000.
• D)$50,000.

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Definitions:

Lone Pairs

Pairs of valence electrons on an atom that are not shared with another atom and do not participate in bonding.

Electron Density

A measure of the probability of electron presence at a specific location around the nucleus of an atom or within a molecule, often visualized in electron density maps.

Orbitals

Mathematical functions describing the regions of space around an atom where electrons are likely to be found.

Spherical Symmetry

A form of symmetry where an object appears the same from any point of view, characteristic of some molecules.