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La More Company Had the Following Transactions During 2013

Question 104

Multiple Choice

La More Company had the following transactions during 2013:
-Sales of $4,500 on account
-Collected $2,000 for services to be performed in 2014
-Paid $1,875 cash in salaries for 2013
-Purchased airline tickets for $250 in December for a trip to take place in 2014
What is La More's 2013 net income using accrual accounting?


A) $2,875
B) $4,875
C) $4,625
D) $2,625

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