Multiple Choice
Wang Company had the following transactions during 2021:
-Sales of $10,800 on account
-Collected $4,800 for services to be performed in 2022
-Paid $2,600 cash in salaries
-Purchased airline tickets for $600 in December for a trip to take place in 2022
What is Wang's 2021 net income using cash basis accounting?
A) $1,600
B) $2,800
C) $13,000
D) $2,200
Correct Answer:
Verified
Correct Answer:
Verified
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