Crue Company had the following transactions during 2013: Sales of $4,500 on account Collected $2,000 for services to be performed in 2014 Paid $1,625 cash in salaries Purchased airline tickets for $250 in December for a trip to take place in 2014 What is Crue's 2013 net income using accrual accounting? A. $4,625 B. $4,875. C. $2,625. D. $2,875.

Q: difference between Gross Earnings and Net Earnings

A: Gross earnings and Net earnings are two terms used in financial accounting while computation of the…

Q: Bramble Company reported net income of $69800 for the year. During the year, accounts receivable…

A: Solution: Cash flow from operating activities represents cash flow from business operations such as…

Q: How would I determine January's net income?

A: An income statement is a financial statement used for reporting the financial performance of the…

Q: Which of the following refers to the elements of Comprehensive Income?  a) Net Income, Interest…

A: Net income is the excess of sales over all the expenses including interest expense and income taxes.

Q: What is Income?   What is Total Income?   What is Net Income?   What is taxable income?

A: Income, in financial terms, refers to the money that an individual or business receives in exchange…

Q: Which of the following would appear on a multiple-step income statement but not on a single-step…

A: Multi step Income Statement An financial statements with multiple steps lists a company's financial…

Q: How do you prepare annual financial statements?

A: In terms of accountancy, financial statements can be defined as the reports which provide the users…

Q: Where can I find after tax interest income on a balance sheet or income statement(trying to find…

A: Components of income statement: The income statement is part of the financial statement of the firm.…

Q: What was the total income tax expense related to income from continuing operations before income…

A: Charge costs are the aggregate sum of expenses owed by an individual, enterprise, or other substance…

Q: How does the income statement differ from the balance sheet withregard to the time period reported?

A: A balance sheet is a statement which provides financial data related to the assets, liabilities and…

Q: Which of the following is (are) deducted from EBIT to determine net income? A. Earnings per share B.…

A: Lets understand the basics.EBIT is abbreviation of "Earning before interest and tax". Net income is…

Q: Which of the following is business income for NOL purposes?    Interest earned on savings account.…

A: If your deductions for the year are more than your income for the year, you may have a net operating…

Q: purchase Returns & Allowances appears where on an Income Statement?

A: The income statement is the financial statement of the business which shows about the profitability…

Q: The manufacturing costs of Mocha Industries for three months of the year are as follows:   Total…

A: High - low method is used to divide variable cost and fixed cost from the limited data available on…

Q: why is income tax expense shown in the income statement different from the income tax paid shown in…

A: Income statement: The financial statement which reports revenues and expenses from business…

Q: How do I calculate the percentage of total revenue that end as net earnings

A: The net earnings are the net profit drives from the sale revenue after deducting cost, operating and…

Q: When should an average amount be used for the numerator or denominator? When the denominator is a…

A: The average amount is used for maintaining the nearest accuracy of the financial ratio. It helps the…