Question

Tadeo, Inc. had the following account balances at September 30, 2015. What is Tadeo's net income for the month of September?Accounts Payable $ 5,800 Capital Stock 12,000 Cash 15,500 Equipment 14,300 Fees Earned 53,000 Miscellaneous Expense 16,800 Rent Expense 4,000 Retained Earnings 7,000 Wages Expense 17,850

Answer 1

Answer:

The Tadeo's net income for the month of September is $14,350

Explanation:

Net income : The net income show the difference between the revenue and expenses

In mathematically,

Net income = Revenues - expenses

In this question

Revenues is fees earned while expenses is Miscellaneous Expense , Rent Expense, and Wages Expense

So

Revenue = $53,000

And, Expenses = $16,800 + $4,000 + $17,850 = $38,650

Hence, the net income is = $53,000 - $38,650 = $14,350

Thus, the Tadeo's net income for the month of September is $14,350