jaydend5252 jaydend5252

Today at 3:58 PM
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A company had the following amounts at the end of the year: Cash $ 11,200 Supplies Expense 1,500 Dividends 2,600 Service Revenue 23,500 Prepaid Rent 4,300 Salaries Expense 8,200 Accounts Payable 12,700 Land 36,900What amount would the company report for net income?a. $11,200. b. $6,900. c. $13,800

Answer :

andromache andromache

Today at 4:03 PM

Answer:

$13,800

Explanation:

The computation of the net income is shown below:

= Service Revenue - Supplies Expense - Salaries Expense

= $23,500 - $1,500 - $8,200

= $13,800

We simply deduct the expenses from the revenues so that the net income could come

And, the other items which are mentioned have come under the balance sheet. Hence, ignored it

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