ABC Corporation reported the following information for the month of August: . Cost of Goods sold...
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ABC Corporation reported the following information for the month of August: . Cost of Goods sold $4,500 • Wage Expense = $5,700 • Purchase of equipment = $6,000 • Depreciation expense $450 = • Other operating expenses = $1,350 • Purchase of inventory = $5,200 .Net income - $2.750 Based on this information, what was the company's revenue for August? On July 7, 2020, ABC Corporation received cash of $1,400 for services performed on that date. The entry to record this transaction will include a. a debit to Service Revenue of $1,400. b. a credit to Cash of $1,400. c. a credit to Retained Earnings of $1,400. d. a credit to Service Revenue of $1,400. ABC Corporation reported the following information for the month of August: . Cost of Goods sold $4,500 • Wage Expense = $5,700 • Purchase of equipment = $6,000 • Depreciation expense $450 = • Other operating expenses = $1,350 • Purchase of inventory = $5,200 .Net income - $2.750 Based on this information, what was the company's revenue for August? On July 7, 2020, ABC Corporation received cash of $1,400 for services performed on that date. The entry to record this transaction will include a. a debit to Service Revenue of $1,400. b. a credit to Cash of $1,400. c. a credit to Retained Earnings of $1,400. d. a credit to Service Revenue of $1,400.
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Ans 24200 Calculation of ABC corporations Sales Revenue Particulars Cost ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0071339476
Volume 1, 6th Edition
Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I
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