Question

16,000										$16,000
2.		–2,500						$5,500		$3,000
3.		–700				$700
4.		5,700		$3,800										$9,500					Service Revenue
5.		–1,300								–1,300
6.		–2,000																-$2,000
7.		–600														–$600			Rent Expense
8.		350		–350
9.		–4,100														–4,100			Salaries/Wages Expense
10.										300						–300			Utilities Expense

(b) Determine how much stockholders’ equity increased for the month.

Increase in stockholders' equity

$Enter the increase in stockholders' equity in dollars

(c) Compute the amount of net income for the month.

Net income

$Enter the net income in dollars

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Answer 1

salaries and wages Answer: 16 calculation of stockholders eauity : particularg Amount Amount common stocke $16000 Service Revenue $9500 $25,500 Less? Expenses Dividend $2,000 Rent expense $ 600 $4100 utilities $300 ($7.000) stocle holders equily $18,500 .. stock holders equality increased for the month is $18,500 c) calculation of Net Income:- pasticulars - Amount Amount service Revende $9,500 Less - Eepeuses:- Reut expenses $600 Salaries and wages $410 Utilities ex peuses $300 ($5000) Net Income $ 4,500 : The Net Income for the month ofis is $4500