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What is the company net income in January

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Reference no: EM132934300

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Q1. A company provides painting service in January and incurs the cost of $6,000 for the service in the same month. The client makes the payment of $16,000 in February. Based on accrual accounting, what is the company's net income in January? Ignore taxes.

-$16,000

-$4,000

-$10,000

-$6,000

Q2. According to GAAP, which of the following activities is an operating activity?

-Investing in equity securities of other companies

-Issuing common stock

-Payment of dividends

-Paying taxes to government

Reference no: EM132934300

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