Multiple Choice
ABC Delivery Service had the following transactions in June: Earned $4,000 cash for services rendered; collected $2,500 from a customer "on account;" paid out $200 cash for plumbing services; received $3,500 of supplies and promised to pay one month later; paid out $1,000 in cash drawings to the owner.
-How much was Net income in June?
A) $5,300
B) $2,800
C) $6,300
D) $3,800
Correct Answer:

Verified
Correct Answer:
Verified
Q151: If a proprietorship cannot pay its debts,the
Q152: The balance sheet of a business represents
Q153: The Ragun Cajun Bar and Grill,Inc.has been
Q154: Hamilton Lawn Service earned $1,000 for services
Q155: Which of the following concepts (or principles)addresses
Q156: Which of the following statements BEST defines
Q157: From a legal perspective,a proprietorship is:<br>A) an
Q158: The largest businesses are usually organized as:<br>A)
Q159: Following is a list of account
Q161: Many organizations have contributed to the establishment