Bramble Company had the following transactions during 2022: • Sales of $4600 on account • Collected $2100 for services to be performed in 2023 • Paid $1600 cash in salaries • Purchased airline tickets for $260 in December for a trip to take place in 2023 What is Bramble's 2022 net income using accrual accounting-basis? ○ $2740. $4840. ○ $5100. ○ $3000.

Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter4: Completing The Accounting Cycle
Section: Chapter Questions
Problem 7E: FedEx Corporation had the following revenue and expense account balances (in millions) for a recent...
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Bramble Company had the following transactions during 2022:
• Sales of $4600 on account
• Collected $2100 for services to be performed in 2023
• Paid $1600 cash in salaries
• Purchased airline tickets for $260 in December for a trip to take place in 2023
What is Bramble's 2022 net income using accrual accounting-basis?
○ $2740.
$4840.
○ $5100.
○ $3000.
Transcribed Image Text:Bramble Company had the following transactions during 2022: • Sales of $4600 on account • Collected $2100 for services to be performed in 2023 • Paid $1600 cash in salaries • Purchased airline tickets for $260 in December for a trip to take place in 2023 What is Bramble's 2022 net income using accrual accounting-basis? ○ $2740. $4840. ○ $5100. ○ $3000.
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