Question 3 of 6 Syner-V Company Adjusted Trial Balance Year ending December 31, 2016 Balances Accounts...

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Answer 1

Answer #1

Correct answer : $64800

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Computation of Net Income
Revenue		$198,000.00
Less: Total Expense
Transportation Exense	$49,000.00
Depreciation Expense	$36,000.00
Insurance Expense	$3,400.00
Rent Expense	$42,000.00
Salaries & Wages Expense	$55,000.00
Utilities Expense	$29,800.00	$215,200.00
Net Income		-$17,200.00

Computaiton of Owner Equity Balance as on 31 Dec 2016
Beginning Balance of Owner Cpaital		$87,000
Net Income ( Loss)		-$17,200
Drawing		-$5,000
Ending Balance of Owner Equity Balance on 31 Dec 2016		$64,800

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