ADMS 2500 Study Guide - Final Guide: Total Return, Market Price, Earnings Before Interest And Taxes

• School: York University
• Department: Administrative Studies
• Course: ADMS 2500
• Professor: all

Document Summary

* some problems are expected with these answers. 6 questions mid term 1 (lab 2 question 1) You may complete the following statements to help you answer the questions: Net income 1,700: the cash sales should be, ,000, ,200, ,000, ,200. Correct answer b ,200: the inventory purchases should be, ,200, ,000, ,200, not enough data to answer. Correct answer a ,200: the utilities expense paid should be, sh, , , not enough data to answer. Correct answers a sh or c : the sales to customers should be, ,000, ,200, ,000, ,200. Correct answer a ,000: the net income reported in the accrual basis income statement should be, ,200, ,400, ,700, ,000. Correct answer b: cash basis net income can be greater or smaller than the accrual basis net income, it all depends on the transactions of the period.