Company A started the year with total assets of $300,000 and total liabilities of $240,000. During the year, the business recorded $570,000 in revenues, $330,000 in expenses, and dividends of $60,000. The net income reported by Jimmy's Repair Shop for the year was
Group of answer choices
A)$180,000.
B)$570,000.
C)$240,000.
D)$300,000.
Net income is equal to=Revenue-Expenses
=570,000-330,000
which is equal to
=$240,000
Company A started the year with total assets of $300,000 and total liabilities of $240,000. During...
Jimmy's Repair Shop started the year with total assets of $100,000 and total liabilities of $80,000. During the year the business recorded $210,000 in revenues, $110,000 in expenses, and dividends of $20,000. Stockholders' equity at the end of the year was a. $120,000. b. $100,000 C. $80,000. d. $90,000.
Chapter 1 Mel's Mechanical Repair Shop started the year with total assets of $60,000, total liabilities of $40,000, and retained earnings of $18,000. During the year, the business recorded $100,000 in auto repair revenues, $70,000 in expenses, and the company paid dividends of $15,000. NI R-E 1. The net income reported by Mel's Mechanical Repair Shop for the year was 2. Mel's balance of stockholders' equity at the start of the year was 3. Mel's balance of retained earnings at...
Current Attempt in Progress Blossom's Electronic Repair Shop started the year with total assets of $301000 and total liabilities of $216000. During the year, the business recorded $512000 in electronic repair revenues, $314000 in expenses, and Blossom withdrew $50700. The net income reported by Blossom's Electronic Repair Shop for the year was O $135700. O $70300 O $268300 O $198000
please need help with ghis thank you Question 8 10 pts Casey's Repair Shop started the year with total assets of $320,000 and total liabilities of $230,000. During the year the business recorded $600,000 in revenues, $360,000 in expenses, and dividends of $50,000. The net income reported by Casey's Repair Shop for the year was $240,000 O $280.000 $190.000 $380,000.
Whispering Winds Corp. started the year with total assets of $322000 and total liabilities of $262000. During the year the business recorded $628000 in revenues, $328000 in expenses, and dividends of $59000. The net income reported by Whispering Winds Corp. for the year was $570000. $300000. $241000. $180000.
Pharoah Company started the year with total assets of $315000 and total liabilities of $255000. During the year the business recorded $632000 in revenues 5326000 in expenses, and dividends of $63000. Stockholders equity at the end of the year was $240000 5366000 5303000 5273000
Maxwell Flooring started the year with total assets of $160,000 and total liabilities of $75,000. During the year the business recorded $250,000 in revenues, $100,000 in expenses, and drawings of $30,000. The profit reported by Maxwell Flooring for the year was
dynamic production services started the year with total assets of $180,000 and total liabilities of $80,000. The company is a sole proprietorship. The revenues and the expenses for the year amounted to $150,000 and $75,000, respectively. During the year, there were no new capital contributions and the owner withdrew $60,000. Calculate Dynamic’s net income for the year.
dynamic production services started the year with total assets of $180,000 and total liabilities of $80,000. The company is a sole proprietorship. the revenues and the expenses for the year amounted to $150,000 and $75,000, respectively. During the year, there were no new capital contributions and the owner withdrew$60,000. Calculate Dynamic’s net income for the year.
Kingbird, Inc started the month of June 2022 with total assets of $207000 and total liabilities of $117000. During June, the business recorded $344000 in revenues, $172000 in expenses, and dividends of $54000. The net income reported by Kingbird, Inc. for the month of June was O $153000 O $202000 O $117000 O $172000