A company has access to their revenue and expense account information for the year, as...
50.1K
Verified Solution
Link Copied!
Question
Accounting
A company has access to their revenue and expense account information for the year, as well as a few of their balance sheet account balances at the end of the year.
Wage Expense
$10,000
Revenue
$85,000
Accounts Receivable
$353,000
Retained Earnings
???
Electric Expense
$31,000
Supplies Expense
$38,000
Based on this information, what is Net Income?
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
