ACCT 212 Week 2 Quiz (100% Correct Solutions) | Already GRADED A

ACCT212 WEEK 2 QUIZ

A company completed the following transactions during the month of October:

I. Purchased office supplies on account, $ 5,800.

II. Provided services for cash, $ 24,000.

III. Provided services on account, $ 33,000.

IV. Collected cash from a customer on account, $ 27,000.

V. Paid the monthly rent of $ 4,600.

What was the company's total revenue for the month?

A. $ 24,000
B. $ 84,000
C. $ 57,000
D. $ 33, 000


A company completed the following transactions during the month of October:

I. Purchased office supplies on account, $ 5,400.

II. Provided services for cash, $ 21,000.

III. Provided services on account, $ 15,000.

IV. Collected cash from a customer on account, $ 8,600.

V. Paid the monthly rent of $ 15,000.

What was the company's net income for the month?

A. $ 36,000
B. $ 51,000
C. $ 15,000
D. $ 21,000


A company had credit sales of $ 34,000 and cash sales of $ 20,000 during the month of May. Also during
May, the company paid wages of $ 25,000 and utilities of $ 10,000. It also received payments from
customers on account totaling $ 5,200. What was the company's net income for the month?

A. $ 19,000
B. $ 20,000
C. $ 89, 000
D. $ 54, 000




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