Pharoah's Computer Repair Shop started the year with total assets of $308,000 and total liabilities...
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Accounting
Pharoah's Computer Repair Shop started the year with total assets of $308,000 and total liabilities of $212,000. During the year, the business recorded $511,000 in computer repair revenues, $312,000 in expenses, and Pharoah paid dividends of $50,400. The net income reported by Pharoah's Computer Repair Shop for the year was: (a) $146,400 (b) $96,000 (c) $199,000 (d) $270,600
(a) $146,400
(b) $96,000
(c) $199,000
(d) $270,600
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