What is the total stockholders' equity based on the following account balances?Common Stock $1,300,000Paid-In Capital in Excess
1 answer:
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Answer: Net income of $50
Explanation:
- net income is the sum of a business's cost of goods sold, expenses, interest, taxes, depreciation, and amortization subtracted from total revenue
- net loss occurs when the sum of total expenses is greater than the total revenue generated by the company or business
Can be calculated by adding expenses and subtracting them from total revenue:
Total Expenses ($)
$1750 = Total expenses
$1800 > $1750
- As a result of the revenue being greater than expenses the company will experience a net income
Subtract total expenses from total revenue:
= Net income
$50 = Net income
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
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