Question: Please answer both questions 3 and 4 Question 3 ( point)d cl On June 23. 20X8, Mikhal Cosmetics sold $250,000 worth of its products to

Please answer both questions 3 and 4
 Please answer both questions 3 and 4 Question 3 ( point)d

Question 3 ( point)d cl On June 23. 20X8, Mikhal Cosmetics sold $250,000 worth of its products to Rynex Corporation. The goods were shipped to Rynex on July 2. The payment from Rynex was received on September 20. Under the "cash basis of accounting" revenue should be recorded on: D June 23, 20x8. OJuly 2, 20x8. September 20, 20x8. O none of the above Save Question 4 (1 point) During the last year, Sigma Co had Net Income of $152. paid $17 in dividends, and sold new stock for $39. Beginning equity for the year was $660. Ending equity was Your

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 Finance Questions!