Bmc82199
contestada

MC Qu. 1-130 A company's financial records at the end.
A company's financial records at the end of the year included the following amounts:
Del
ELECTRIC
points
WWW
Cash
Accounts Receivable
Supplies
Accounts Payable
Notes Payable
Retained Earnings, beginning of year
Common Stock
Service Revenue
Wages Expense
FREE
Advertising Expense
Rent Expense
HIN
$71,500
29,500
5,500
11,500
5,750
18,500
55,000
43, 250
9,500
6,500
11,500
WWWWWW
MW
WWWWW
wwwwwwwwwww
WWW
www.
What is the amount of net income on the income statement for the year?
Multiple Choice​

Respuesta :

Answer:

$15,750

Explanation:

The computation of the net income is shown below:

Net income = Service revenue - wages expense - advertising expense - rent expense

= $43,250 - $9,500 - $6,500 - $11,500

= $15,750

We simply deduct all the expenses incurred from the service revenue so that the net income could come and the same is shown above i.e in the computation part