Multiple Choice
Given the trial balance amounts below,compute net income.
Common stock…….$120,000 Accounts payable…...$25,000
Cash………………..$116,640 Accounts receivable..$22,450
Supplies………........$ 1,500 Office equipment…...$23,300
Prepaid rent……….$ 3,200 Unearned revenue….$ 4,152
Service revenue…...$ 20,000 Utilities expense…....$ 422
Beginning Shaving equipment… $31,640
Retained earnings.$ 30,000
A) $19,578
B) $20,528
C) $23,728
D) $49,578
E) $24,578
Correct Answer:

Verified
Correct Answer:
Verified
Q34: Which of the following statements is incorrect?<br>A)The
Q41: The three general categories of accounts in
Q123: A _ is a list of all
Q124: Explain debits and credits and their role
Q131: When a company bills a customer for
Q160: These transactions were completed by the art
Q162: Josephine's Bakery had the following assets
Q163: The balances for the accounts of
Q167: Match the following definitions and terms
Q224: Explain the debt ratio and its use