Lantz Company has provided the following information: • Cash sales totaled $255,000.
• Credit sales totaled $479,000.
• Cash collections from customers for services yet to be provided totaled $88,000.
• A $22,000 loss from the sale of property and equipment occurred.
• Interest income was $7,700.
• Interest expense was $19,900.
• Supplies expense was $336,000.
• Rent expense for the store was $36,000.
• Wages expense was $49,000.
• Other operating expenses totaled $79,000.
• Unearned revenue was $4,000.

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What is the amount of Lantz's operating revenues?
A)$734,000.
B)$822,000.
C)$826,000.
D)$833,700.

Question

Lantz Company has provided the following information: • Cash sales totaled $255,000.
• Credit sales totaled $479,000.
• Cash collections from customers for services yet to be provided totaled $88,000.
• A $22,000 loss from the sale of property and equipment occurred.
• Interest income was $7,700.
• Interest expense was $19,900.
• Supplies expense was $336,000.
• Rent expense for the store was $36,000.
• Wages expense was $49,000.
• Other operating expenses totaled $79,000.
• Unearned revenue was $4,000.

-
What is the amount of Lantz's operating revenues?
A)$734,000.
B)$822,000.
C)$826,000.
D)$833,700.

Quizplus · Accepted Answer

Operating revenues for Lantz Company include cash sales and credit sales, which total $255,000 + $479,000 = $734,000. Collections for services yet to be provided (unearned revenue), loss from the sale of property and equipment, interest income, and interest expense are not considered operating revenues.

Lantz Company Has Provided the Following Information: • Cash Sales