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

Accounting (Text Only)

26th Edition

ISBN:9781285743615

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter17: Financial Statement Analysis

Section: Chapter Questions

Problem 17.1EX

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