Summarized operations for Carston Gardens for the month of July are as follows. Revenues recognized: for cash 30,000; on account 70,000. Expenses incurred: for cash 26,000; on account 40,000. Indicate for Carston Gardens (a) The total revenues, (b) The total expenses, (c) Net income for the month of July.
Chapter 1, Questions #21
Summarized operations for Carston Gardens for the month of July are as follows.
Revenues recognized: for cash £30,000; on account £70,000.
Expenses incurred: for cash £26,000; on account £40,000.
Indicate for Carston Gardens
(a) The total revenues,
(b) The total expenses,
(c) Net income for the month of July.
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Answer
(a) Total revenues (30,000 + 70,000)........................................................................... …View the full answer
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4th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
ISBN: 978-1119504306