La More Consulting had the following transactions in 2022: • Sales of $12,000 on account. • • • Collected $6,000 for services to be performed in 2023. Paid $4,500 cash in salaries for 2022. Purchased office supplies for $700 in December, to be used in 2023. What is La More Consulting's 2022 net income using accrual accounting?

La More Consulting had the following transactions in 2022: • Sales of $12,000 on account. • • • Collected $6,000 for services to be performed in 2023. Paid $4,500 cash in salaries for 2022. Purchased office supplies for $700 in December, to be used in 2023. What is La More Consulting's 2022 net income using accrual accounting?

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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