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  1. business
  2. accounting
  3. a. $86,440 b. $87,000 ...

A. $86,440 B. $87,000 ...

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Verified Solution

Question

Accounting

  1. A.

    $86,440
    B.

    $87,000
    C.

    $86,860
    D.

    $85,260

4 points

QUESTION 29

  1.  
    The Income Statement for the month of June, 2019 of Camera Obscura Enterprises contains the following information: 
     Revenues $127,000
     Expenses:
     Salaries and Wages Expense $13,000
     Rent Expense 11,000
     Advertising Expense 800
     Supplies Expense 300
     Insurance Expense 100
     Total expenses 25,200
     Net income $101,800 
    At June 1, 2019, Camera Obscura reported owners equity of $635,000. The company had no owner drawings during June. At June 30, 2019, the company will report Owners Equity of
    A.

    $635,000.
    B.

    $729,800.
    C.

    $736,800.
    D.

    $742,000.

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