Reference no: EM132835933
Problem 1: On the work sheet, the statement of financial position should have the same debit and credit column totals
a. Before net income is added to its debit column
b. After net income is added to its credit column
c. After net income is added to its debit column
d. Before net income is added to its credit column
Problem 2: How much was the company's net sales revenue based on the information given below for the year 2020?
Freight-out, ?200,000
Operating Expenses, ?1,700,000
Sales, ?10,000,000
Sales Discount, ?80,000
Sales Returns and Allowances, ?60,000
a. ?7,960,000
b. ?8,160,000
c. ?9,860,000
d. ?10,000,000
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