Omega Transportation Inc., headquartered in Atlanta, Georgia, engaged in the following transactions: Billed customers $2,387,000 for transportation
Question:
Billed customers $2,387,000 for transportation services
Collected cash from customers in the amount of $1,364,000
Purchased fuel supplies for $1,262,000 cash
Used fuel supplies that cost $1,253,000
Employees earned salaries of $256,000
Paid employees $25,000 cash for salaries
Required:
Determine the amount of sales revenue and total expenses for Omega’s income statement.
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Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-0324787351
1st Edition
Authors: Rich Jones, Mowen, Hansen, Heitger
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