Question 21 Summarized operations for Larkspur, Inc. for the month of July are as follows. Revenues recognized: for cash $30,000; on account $72,640. Expenses incurred: for cash $26,940; on account $38,600. Indicate for Larkspur, Inc. (a) the total revenues, (b) the total expenses, and (c) net income for the month of July. (a) Total revenues $ (b) Total expenses %24 (c) Net income 24

Question 21 Summarized operations for Larkspur, Inc. for the month of July are as follows. Revenues recognized: for cash $30,000; on account $72,640. Expenses incurred: for cash $26,940; on account $38,600. Indicate for Larkspur, Inc. (a) the total revenues, (b) the total expenses, and (c) net income for the month of July. (a) Total revenues $ (b) Total expenses %24 (c) Net income 24

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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