No work shown required Financial information is presented below:Operating expenses$ 42,000Sales returns and allowances12,000Sales discounts3,000Sales revenue165,000Cost of goods sold96,000The amount of net sales on the income statement would be The incorrect trial balance debit column is $68,700. During the period, a $1,000 debit to cash was posted as $100. What is the adjusted trialbalance total after this error is corrected.O A.$67,600В.$67,800C.$69,800CAD. $69,600

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Financial information is presented below: Operating expenses $ 42,000 Sales returns and allowances 12,000 Sales discounts 3,000 Sales revenue 165,000 Cost of goods sold 96,000 The amount of net sales on the income statement would be

Financial information is presented below: Operating expenses $ 42,000 Sales returns and allowances 12,000 Sales discounts 3,000 Sales revenue 165,000 Cost of goods sold 96,000 The amount of net sales on the income statement would be

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.

Question

No work shown required

Financial information is presented below:
Operating expenses
$ 42,000
Sales returns and allowances
12,000
Sales discounts
3,000
Sales revenue
165,000
Cost of goods sold
96,000
The amount of net sales on the income statement would be

The incorrect trial balance debit column is $68,700. During the period, a $1,000 debit to cash was posted as $100. What is the adjusted trial
balance total after this error is corrected.
O A.
$67,600
В.
$67,800
C.
$69,800
CAD. $69,600

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