Answer:
net net income is $1000
Explanation:
given data
Accounts Receivable = $6,000
Accounts Payable = 7,000
Salaries Expense = 6,000
Repairs Expense = 900
Truck = 12,000
Equipment = 9,000
Notes Payable = 24,000
Cash = 12,000
Supplies Expense = 9,000
Service Revenue = 24,000
Gasoline Expense = 7,100
Salaries Payable = 1,500
solution
we get here net income that is express as
net income = Total revenues and gains - Total Expenses ..............1
here Total revenues and gains is Service Revenue = 24,000 and
Total Expenses = salaries expenses + repair expenses + supplies expenses + gasoline expenses
Total Expenses = 6,000 + 900 + 9,000 + 7,100
Total Expenses = 23000
so net income = Total revenues and gains - Total Expenses
net income = 24000 - 23000
so net net income is $1000
