Multiple Choice
Crue Company had the following transactions during 2015:
-Sales of $4,500 on account
-Collected $2,500 for services to be performed in 2016
-Paid $1,625 cash in salaries
-Purchased airline tickets for $250 in December for a trip to take place in 2016
What is Crue's 2015 net income using cash basis accounting?
A) $625.
B) $875.
C) $5,125.
D) $5,375.
Correct Answer:
Verified
Correct Answer:
Verified
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