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Nona Corporation, a Calendar-Year Company, Had the Following Transactions During

Question 111

Multiple Choice

Nona Corporation, a calendar-year company, had the following transactions during 2012: Nona Corporation, a calendar-year company, had the following transactions during 2012: Assuming cash-basis accounting for Nona Corporation, how much income should be reported on its 2012 income statement? A) $21,000 B) $27,000 C) $40,000 D) $41,200 Assuming cash-basis accounting for Nona Corporation, how much income should be reported on its 2012 income statement?


A) $21,000
B) $27,000
C) $40,000
D) $41,200

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