Granite Peak Co. had these transactions in 2022: • • • Revenue of $12,000 on account Collected $6,000 for services to be performed in 2023 Paid $5,200 in wages for 2022 Bought $800 in office supplies in December for 2023 What is Granite Peak's 2022 net income using accrual accounting?

Granite Peak Co. had these transactions in 2022: • • • Revenue of $12,000 on account Collected $6,000 for services to be performed in 2023 Paid $5,200 in wages for 2022 Bought $800 in office supplies in December for 2023 What is Granite Peak's 2022 net income using accrual accounting?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 3MC: Prince Corporations accounts provided the following information at December 31, 2019: What should be...

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Financial Accounting

Granite Peak Co. had these transactions in 2022:
•
•
•
Revenue of $12,000 on account
Collected $6,000 for services to be performed in 2023
Paid $5,200 in wages for 2022
Bought $800 in office supplies in December for 2023
What is Granite Peak's 2022 net income using accrual accounting?

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