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Question 21 Summarized operations for Kingbird, Inc. for the month of July are as follows. Revenues recognized: for cash $30,

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Answer #1

a) Total Revenues = $30,000+70,640 = 100,640

b) Total Expenses = $26,400+41,880 = $68,280

c) ,Net income = $100,640 - $68,280 = $32,360

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