Question: Current Attempt in Progress Cheyenne Corp. had the following transactions during 2022. Sales of $8600 on account Collected $4000 for services to be performed

Current Attempt in Progress Cheyenne Corp. had the following transactions during 2022.

Current Attempt in Progress Cheyenne Corp. had the following transactions during 2022. Sales of $8600 on account Collected $4000 for services to be performed in 2023 Paid $2000 cash in salaries Purchased airline tickets for $410 in December for a trip to take place in 2023 What is Cheyenne's 2022 net income using cash basis accounting? O $1590 O $2000 O $10600 $10190

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Val Nolan started a business called Nolan's Home Appraisals. The trial balance as of October 31, after the first month of operations, is as follows: REQUIRED 1. Analyze the following adjustments and...

Kylie's Cookies is considering the purchase of a larger oven that will cost $2,200 and will increase her fixed costs by $59. What would happen if she purchased the new oven to realize the variable...

View Policies Current Attempt in Progress Sheffield Corp. had the following transactions during 2022. Sales of $10000 on account .Collected $3700 for services to be performed in 2023 Paid $2100 cash...

My topic : Adaptive supply chain network design Please explain it with the references.. Question :Explain why this topic is important for supply chains. Question : Explain the chosen topic and its...

Use the following information about the 2020 cash flows of MasonCorporation to prepare a statement of cash flows under the directmethod.Cash balance, end of 2020$14,400Cash paid to employees 2 answers

Current Attempt in Progress Concord Company had the following transactions during 2022: Sales of $4500 on account Collected $2300 for services to be performed in 2023 Paid $1650 cash in salaries...

View Policies Current Attempt in Progress Novak Corp. had the following transactions during 2021: Sales of $10980 on account Collected $4880 for services to be performed in 2022 Paid $4580 cash in...

More Contemporary Issues in Therapy and Counseling: Find a topic with - "Severe harassment and bullying can cause overthinking/lack of trust/suicide among adults" - (current statistics, current...

MEWORK WITH VIL 5/21 Question 2 of 3 View Policies Current Attempt in Progress Cheyenne Corp. was organized on January 1, 2022. It is authorized to issue 11,000 shares of 8%, $100 par value preferred...

View Policies Show Attempt History Current Attempt in Progress Cheyenne Corp was organized on January 1, 2022. It is authorized to issue 11.000 shares of 86, 5100 par value preferred stock, and...

PG Camp X Unit 7 - N X Unit 4 Lal X WP NWP Ass X po Rephrase X Homewo X 4 My Drive X KENNY C X What Do X Chill | 41 X G The adjus x + V X - > C A...

Evaluate how an unbalanced mix of employees can affect a company. Suppose you work in the Hr department of a large, well-established company. Recently, senior management conducted a survey examining...

A 12.0 N force with a fixed orientation does work on a particle as the particle moves through displacement d = (2.00i 4.00i + 3.00k) m. What is the angle between the force and the displacement if...

Advantage of using long term debt financing instead of equity financing

An observer stands 20 m from the bottom of a Ferris wheel on a line that is perpendicular to the face of the wheel, with her eyes at the level of the bottom of the wheel. The wheel revolves at a rate...

For the following series, determine if the series is convergent. The questions are True / False and they are worth 5 point each. You do not have to upload work for all of these series. If the series...

On January 1, 2017, indigo rnCompany has the following defined benefit pension plan balances. The interest (settlement) rate applicable to the plan is 10%. On January 1, 2018, the company amends its...

By using pointers, write a function in C++ that receives a character string and a character as argument and deletes all occurrences of this character in the string. The function should return the...

i). Harris Ltd. exchanged a parcel of land with a carrying value of $15 million and fair value of $20 million, for some highly specialized machinery from Biden Corp. In addition, Harris Ltd. also...

Tori and some other childeen experimented with balls to see which ones rolled. First using a piece of cardboard to use as a ramp, they angled it on a block to the floor to test the balls. Then Tori...

13.8A Starkey Wilmott Limited has the following balance sheet at 31 March 20X3: Fixed assets Current assets Stock Debtors Cash at bank 704 710 369 440 416700 81 450 867 590 Creditors: amounts...

13.9 The following is a simplified extract from the balance sheet of The Boots Company pic at 31 March 2001, with comparative figures for 31 March 2000. 2001 2001 2000 2000 m m m m Fixed assets...

13.7 Chapter Protection Limited is a security firm. Its profit and loss account for the year ending 31 December 20X2 is as follows: Turnover 188 703 Cost of sales (115 863) Gross profit 72 840...