Summarized operations for Oslo Outfitters for the month of July are as follows. Revenues recognized: for cash 20,000; on account 70,000. Expenses incurred: for cash 26,000; on account 40,000. Indicate for Oslo Outfitters (a) The total revenues, (b) The total expenses, and (c) Net income for the month of July.

Chapter 1, Questions #21

Summarized operations for Oslo Outfitters for the month of July are as follows.

Revenues recognized: for cash £20,000; on account £70,000.
Expenses incurred: for cash £26,000; on account £40,000.

Indicate for Oslo Outfitters 

(a) The total revenues, 

(b) The total expenses, and 

(c) Net income for the month of July.

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Related Book For answer-question

Accounting Principles

IFRS global edition

Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt

ISBN: 978-1119419617