During the month, Bavarian Auto Co. received $476,500 in cash and paid out $402,150 in cash....

 

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During the month, Bavarian Auto Co. received $476,500 in cash and paid out $402,150 in cash. a. Does this information indicate that Bavarian Auto Co. had net income of $74,350 during the month? Net income transactions. the net change in all assets and liabilities from operating (revenue and expense) b. If the balance of the cash account is $107,700 at the end of the month, what was the cash balance at the beginning of the month? During the month, Bavarian Auto Co. received $476,500 in cash and paid out $402,150 in cash. a. Does this information indicate that Bavarian Auto Co. had net income of $74,350 during the month? Net income transactions. the net change in all assets and liabilities from operating (revenue and expense) b. If the balance of the cash account is $107,700 at the end of the month, what was the cash balance at the beginning of the month?

Answer rating: 100% (QA)

a To determine the net income we need to calculate the diff... View the full answer